New Delhi: Delhi High Court on Friday allowed the former chairman and founder of Jet Airways, Naresh Goyal, to withdraw his plea to travel abroad. Goyal had challenged the look out circular (LOC) against him. The look out circular (LOC) was issued by the corporate affairs ministry after it found several irregularities in the airline company, following which Goyal and his wife Anita Goyal were stopped from flying abroad by immigration authorities. The duo was disembarked from an Emirates plane flying out of Mumbai airport on 25 July.
Justice Navin Chawla did not express anything on merits of the case and said the petition is "dismissed as withdrawn".
Goyal, in his fresh application, said the Serious Fraud Investigation Office (SFIO) has started its probe into the case of alleged fraud of ₹18,000 crore and he was extending full cooperation to the agency in the investigation and, accordingly, was not pressing for the permission to go abroad at this stage.
In March, Goyal was forced to cede control of the airline he had founded more than two decades ago, after Jet Airways, saddled with about ₹8,500 crore in debt, defaulted on payments to banks and aircraft lessors.
Jet Airways suspended operations on 17 April due to severe cash crunch, while struggling with massive debt. The airline’s total liability, including unpaid salaries and vendor dues, is nearly ₹15,000 crore.