ED may summon Naresh Goyal in Jet Airways privilege case
MUMBAI: The Enforcement Directorate (ED) is likely to summon Jet AirwaysNSE -22.72 % founder Naresh Goyal for questioning over alleged wrongdoing related to stake sales in the unit that ran the grounded carrier’s loyalty programme, said people with knowledge of the matter.
The agency is also studying allegations of tax evasion of more than Rs 650 crore made by the income tax department against Jet Airways and its units to see if these violated provisions of the Foreign Exchange Management Act (FEMA).
Jet Airways incorporated Jet Privilege Pvt Ltd (JPPL) as a wholly owned unit in 2012. After Etihad bought a 50.1% stake, it was hived off as an independent entity. Jet Airways holds the remaining 49.9%. Etihad had bought a 24% stake in Jet Airways in 2013.
