Under the Prevention of Money Laundering Act (PMLA) 2002, the Enforcement Directorate (ED) announced on Wednesday that it has attached properties worth Rs 538 crore belonging to Naresh Goyal, the founder of Jet Airways, his family, and companies. These properties are allegedly connected to a bank loan fraud.
17 residential flats or bungalows as well as business spaces in London, Dubai, and other Indian states are included in the linked properties. According to an ED statement, the seized properties are registered in the names of a number of businesses and individuals, including Jetair Private Limited, Jet Enterprises Private Limited, Naresh Goyal, his wife Anita, and their son Nivaan.
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Goyal, 74, was taken into custody by the Enforcement Department (ED) on September 1. The ED charged him on Tuesday in a special Prevention of Money Laundering Act (PMLA) court in Mumbai, according to PTI.
The Central Bureau of Investigation (CBI) filed a first information report (FIR) in relation to an alleged fraud case against Jet Airways, Goyal, his wife Anita, and a few former business executives. This is where the money laundering case originates.
PTI claims that the bank was accused of authorizing credit limits and loans to Jet Airways (India) Ltd. totaling Rs 848.86 crore, of which Rs 538.62 crore was unpaid, in the FIR that was filed in response to the bank's complaint.
The investigating agency said earlier in the Jet Airways founder's remand hearing that he used many overseas trusts to launder money out of India and into other countries.
According to PTI, the inquiry showed that the accused had established multiple trusts overseas, using which he had acquired a number of real estate holdings. It had claimed the funds for those trusts are nothing more than the proceeds of crime (POC) diverted from India to other countries.
According to the ED, their inquiry also showed that Goyal had bought and then sold expensive residences in Mumbai. Additionally, he established a network of businesses in India that have allowed him to purchase numerous real estate holdings.
According to PTI, the Enforcement Directorate (ED) has claimed, citing an audit report, that Jet Airways (India) Limited (JIL) utilized the loans it obtained to buy immovable assets like clothing, jewelry, and furniture.
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