Jet Airways (India) Ltd News

Money laundering case: Jet Airways founder Naresh Goyal gets medical bail

The Bombay High Court on Monday granted medical bail to Jet Airways founder Naresh Goyal, who is an accused in a money laundering case. In May this year, a single bench of Justice N J Jamadar granted interim bail to Goyal on medical grounds. Justice Jamadar on Monday made the interim order permanent. Goyal (75) is suffering from cancer and had sought bail to undergo treatment. The Enforcement Directorate (ED) had opposed his plea and said he could be admitted to a hospital of his choice and take treatment while in custody. In May, the HC granted interim bail to Goyal for a period of two months which was later extended by four weeks and then again for two months. The ED arrested Goyal in September 2023 on allegations that he had laundered money and siphoned off loans to the tune of Rs 538.62 crore given to Jet Airways by the Canara Bank. His wife Anita Goyal was arrested in November 2023 when the ED submitted its chargesheet in the case. A special court granted her bail the same

'No choice': Supreme Court orders liquidation of grounded Jet Airways

Says Jalan-Kalrock Consortium, successful bidder for the airline, failed to implement the resolution plan five years since its approval

SC orders liquidation of Jet Airways, rejects NCLAT's approval of takeover

The Supreme Court has directed the liquidation of Jet Airways, citing the failure of the Jalan-Kalrock Consortium to meet revival conditions, overturning the NCLAT's approval

SBI gave unsecured loans to firms and is now floundering: JKC tells SC

JKC argued that SBI had previously granted loans to companies without sufficient security, which led to their financial troubles

Creditors delayed resolution process for Jet Airways: Winning bidder to SC

Jalan Kalrock Consortium (JKC), which was handed over the grounded air carrier Jet Airways, on Tuesday informed the Supreme Court that the creditors had delayed the resolution process by raising pleas at every stage of compliance. The National Company Law Appellate Tribunal (NCLAT) on March 12 had upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to the consortium. A bench comprising Chief Justice D Y Chandrachud and Justices JB Pardiwala and Manoj Misra was hearing an appeal of State Bank of India, Punjab National Bank and JC Flowers Asset Reconstruction Private Limited challenging the March 12 verdict of the NCLAT. The NCLAT had directed the Jet Airways monitoring committee to complete the transfer of ownership within 90 days. The consortium, having won the bid to revive the once-grounded airline, is facing a complex legal battle over the compliance with the resolution plan. Additional Solicitor General N Venkatramani, appearing fo

Jet Airways' Naresh Goyal moves HC, seeks extension of interim medical bail

Jet Airways founder Naresh Goyal has moved the Bombay High Court seeking extension of the two-month interim medical bail granted to him earlier. On May 6, the high court had granted interim bail for two months on medical grounds to Goyal, arrested in a money laundering case by the Enforcement Directorate (ED). Goyal, 75, has now filed an application seeking extension of the same. The plea said his medical condition continues to remain poor and that he has also lost his wife to cancer on May 16. The application came up for hearing on Tuesday before a single bench of Justice Manish Pitale. The court referred to a circular issued by the high court in February, stating that the applications where earlier pleas were considered and decided by a particular judge shall be placed before the same bench. Justice Pitale directed the high court's registry department to place Goyal's application before the single bench of Justice N J Jamadar, who had granted him interim bail in May for two ...