In a significant development, the founder of Jet Airways, Naresh Goyal, has been sent to 14-day judicial custody by a Special PMLA court. Following this decision, Goyal will be lodged in Mumbai’s Arthur Road jail for the next two weeks.
The 74-year-old Goyal was brought before the court at the conclusion of his remand on Thursday. Notably, the probe agency did not seek any further remand, leading to the court’s decision to place him in judicial custody and subsequently send him to Arthur Road jail.
What sets this development apart is that Goyal himself expressed a preference for Arthur Road jail over Taloja Central Prison, situated on the outskirts of the city. Through his lawyer, Ameet Naik, Goyal filed several applications during his time in custody, requesting specific accommodations and even permission to be admitted to a private hospital.
One of the key points raised in his plea was Goyal’s health. He had previously complained of uneasiness and dizziness, leading to his admission to the state-run Sir J J Hospital. During this hospitalization, it was discovered that his heart rate was unusually low. Given his history of heart disease and a prior bypass surgery, the plea argued that he is at risk of cardiac arrest and requires continuous medical attention. However, the court’s response was that such matters would be considered if his remand were to be extended.
Goyal’s legal woes began when he was arrested by the Enforcement Directorate (ED) on September 1 under the Prevention of Money Laundering Act (PMLA). The allegations against him pertain to an alleged fraud of Rs 538 crore at Canara Bank.
When Jet Airways encountered operating difficulties as a result of a financial squeeze, Naresh Goyal, the visionary who launched the airline in 1993, resigned from his position as chairman in 2019. His detention occurred about the same time that the Jalan Kalrock consortium paid Rs 100 crore ($120,000) of the Rs 350 crore total promised for acquiring the now-bankrupt airline.
Following a FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita, and a number of former corporate executives in connection with the suspected money laundering case, the money laundering case was started. The ED carried out raids in July on locations connected to Naresh Goyal and other people who were allegedly involved in the investigation.
