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Naresh Goyal to be in ED custody till Sept 11
Updated On: 03 September, 2023 08:24 AM IST | Mumbai | Faizan Khan
Ex-Jet Airways chairman has been accused of cheating Canara Bank to the tune of Rs 538 crore
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Naresh Goyal at the court on Saturday. Pic/Atul Kamble
The Special Prevention of Money Laundering (PMLA) court on Saturday granted the Enforcement Directorate custody of former Jet Airways founder Naresh Goyal till September 11. Goyal was arrested after an exhaustive eight-hour interrogation on Friday, in connection with the Canara Bank fraud case, involving a staggering sum of Rs 538 crore. In July, the ED had begun fresh investigations against Goyal in the money laundering case, conducting searches at multiple locations, including Mumbai.
Goyal was presented in court on Saturday, with the ED requesting maximum custody. In their remand application, the ED laid out details of the case, stating that an FIR had been filed by the CBI in May this year, following a complaint by Canara Bank. It was alleged that M/s. Jet Airways (India) Ltd., in connivance with other accused individuals, including Goyal, had cheated the bank by diverting bank funds through its subsidiaries, fabricating expenses, including personal ones, ultimately resulting in a loss of Rs 538.62 crores for the bank.
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