Sunday, Dec 08, 2019 | Last Update : 09:48 PM IST

Jet Airways founder Naresh Goyal’s premises searched by ED in Mumbai, Delhi

THE ASIAN AGE
Published : Aug 23, 2019, 2:26 pm IST
Updated : Aug 23, 2019, 2:26 pm IST

Jet Airways stopped its operations indefinitely earlier in 2019 due to its huge debts, leaving thousands of employees jobless.

In March, Naresh Goyal stepped down as chairman of the Jet Airways. (Photo: ANI)
 In March, Naresh Goyal stepped down as chairman of the Jet Airways. (Photo: ANI)

New Delhi: The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with a case of alleged contravention of the foreign exchange law, officials said.

They said the searches are being carried out under the provisions of the Foreign Exchange Management Act (FEMA) and are aimed at gathering additional evidence.

Premises in Mumbai and Delhi are being searched, they said.

A full-service carrier, Jet Airways shuttered operations on April 17 after running out of cash.

A Ministry of Corporate Affairs (MCA) inspection report had found large-scale irregularities, including diversion of funds, at the airline, sources had said in July.

In March, Goyal stepped down as chairman of the airline.

Currently, Jet Airways is undergoing resolution process under the Insolvency and Bankruptcy Code.

Tags: jet airways, enforcement directorate, naresh goyal, chiarman
Location: India, Delhi, New Delhi