Naresh Goyal (Reuters file)
Naresh Goyal (Reuters file)

ED searches Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai

  • Jet Airways shuttered operations on 17 April after running out of cash
  • In March, Naresh Goyal stepped down as chairman of the airline

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 were being carried out under the provisions of the Foreign Exchange Management Act (FEMA), and aimed at gathering additional evidence.

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

Jet Airways shuttered operations on 17 April 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.

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

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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