MCA probes Jet Airways on suspicion of siphoning funds: Sources

Airline tells exchanges it hasn't received any communication from the ministry

The Ministry of Corporate Affairs is probing allegations of fund siphoning at Jet Airways, the country’s second largest domestic airline by market share. “The probe is at a very crucial stage. The inquiry is being carried out by the western division based in Mumbai,” a senior government official said. 

The inquiry comes in the backdrop of Jet Airways deferring its first quarter results. While sources attributed the delay in announcing its result to differences with auditors, the airline denied any clash between the two. Subsequently, the company said it would declare the first quarter result on August 27.

“The deferment