Bank Fraud Case: CBI Conducts Raids at Jet Airways Mumbai Offices, Founder Naresh Goyal's Residences

The Central Bureau of Investigation (CBI) on Friday registered a case against  Jet Airways founder Naresh Goyal, and his wife Anita Goyal in an alleged Rs 538-crore fraud case in Canara Bank.

For this, the central agency carried raids at seven locations in Mumbai. The CBI searches were spread across residences and offices of Goyal, his wife Anita, and former airline director Gaurang Ananda Shetty.

The agency has registered a new case of alleged bank fraud of Rs 538 crore on a complaint from Canara Bank.

According to the central agency, they have allegedly diverting funds among other irregularities, news agency PTI said.

Jet Airways, once India’s largest private carrier, suspended its operations in April 2019 due to a severe cash crunch and mounting debt.

The airline was taken over by a consortium of Jalan-Kalrock in June 2021, after a long-drawn insolvency process.

Jet Airways was one of India’s most prolific airlines before it stopped operations in April 2019 due to financial crunch.

With Naresh Goyal as Chairman, it was the only airline besides Air India to have flights to the United States with wide-bodied Boeing aircrafts. Before ceasing operations, Jet Airways had the highest seating capacity for international flights among all airlines operating from India.

Read all the Latest India News and Karnataka Elections 2023 updates here