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Naresh Goyal moves Bombay High Court challenging his arrest in loan default case by Enforcement Directorate

Naresh Goyal, the founder of Jet Airways has moved Bombay High Court challenging his arrest in a loan default case by the Enforcement Directorate.

In his petition Goyal has claimed that his arrest was illegal. The Jet founder has also challenged orders of the special court under the Prevention of Money Laundering Act (PMLA) due to which he was first remanded to ED custody and thereafter to judicial custody.

A division bench comprising of Justice Revati Mohite Dere and Justice Gauri Godse is likely to hear the plea on September 20.

Goyal was headed to the Serious Fraud Investigation Office (SFIO) when the ED took him in for questioning in a case registered with the Central Bureau of Investigation (CBI) by Canara Bank in November 2022.

The founder of Jet Airways was officially placed under arrest by ED on September 1 after he was questioned.

He was produced before the special court which remanded him to ED custody till September 14.

On September 14, he was remanded to judicial custody for 2 weeks

It was since 2019 that the SFIO has been conducting an investigation against the Goyals for an alleged fraud involving ₹7,000 crores.

Canara Bank has alleged that Goyal along with his wife Anita Goyal and other public officers had cheated, conspired and indulged in a criminal breach of trust against the bank.

The complaint had stated that their default allegedly caused a wrongful loss of ₹538 crores to the bank, the complaint stated.

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