Goyal used funds of Jet Airways for personal enrichment: ED tells court
The money borrowed by Jet Airways was misused by its founder Naresh Goyal for personal gains and enrichment, the Enforcement Directorate (ED) on Saturday told a court here while seeking his custody in a case of an alleged Rs 538 crore loan fraud, registered on a complaint filed by Canara Bank. The special Prevention of Money Laundering Act (PMLA) court sent 74-year-old Goyal in the ED’s custody till September 11. Seeking his remand, the ED claimed that the loans taken by now-defunct Jet Airways (India) Limited (JIL) from Canara Bank were used for purchasing things such as furniture, apparel and jewellery besides other illegitimate purposes.
