In a case involving the money laundering of Rs 539 billion, a special court in Mumbai ordered Jet Airways (India) Ltd founder Naresh Goyal to remain in the custody of the Enforcement Directorate (ED) till September 11.
Special public prosecutor Sunil Gonsalves claimed that Goyal had siphoned off proceeds of crime to the various companies and trusts he created in tax havens and had also acquired various properties abroad, including in UAE (Dubai) and the UK. He was asking for Goyal's 14-day detention for questioning.
“Moreover, State Bank of India along with other consortium banks have overall outstanding exposure of approximately £600 million to JIL as JIL defaulted in payments of loan instalments as on December 31, 2018. The accounts of JIL slipped into NPA (non-performing assets) on June 5, 2016, having book liability as on the date of NPA worth £53.86 million in respect of Canara Bank. This amount of £53.86 million as NPA is nothing but the proceeds of crime which have been diverted and siphoned off,” the ED said.