Page 2 - Jet Airways

Jet Airways case: Supreme Court dismisses JKC plea on new payment plan

"The question of adjustment of Rs150 crore (through bank guarantee), we will keep it with the NCLAT. You (JKC) have to (pay)," the apex court had said

Court allows Jet founder Goyal to undergo colonoscopy at private hospital

The superintendent of Arthur Road jail shall arrange sufficient escort at the expenses of the applicant (Goyal), the court said

Jet Airways case: SC deals blow to JKC, orders Rs 150 crore bank guarantee

The Supreme Court ruled that if Jalan Kalrock Consortium (JKC) fails to furnish the bank guarantee, legal penalties will follow

Jet Airways case: Supreme Court directs JKC to deposit Rs 150 crore

"The question of adjustment of Rs 150 crore (through bank guarantee), we will keep it with the NCLAT. You (JKC) have to (pay)," the apex court said

NCLAT dismisses JKC's plea challenging sale of Jet Airways aircraft

Additional Solicitor General (ASG) Venkatraman, representing the lenders, said they were losing public money to keep the airline afloat due to maintenance costs

ED allegations false: Jet Airways founder seeks bail in bank fraud case

Jet Airways founder Naresh Goyal, an accused in an alleged fraud of Rs 538 crore at state-run Canara Bank who is in jail for nearly three months, on Friday moved an application before a special court here seeking bail in the case. The court has asked the Enforcement Directorate (ED), probing the case, to file its reply to Goyal's plea by December 20. The 74-year-old businessman, in his plea seeking relief, has cited multiple health ailments like heart condition, prostate, orthopaedic-related issues, among others and claimed there are reasonable grounds to believe he "is not guilty. The entire investigation has been carried out only with the intention to allege and project siphoning (of funds) by the applicant for his personal benefits, said the plea filed before special PMLA court Judge M G Deshpande. From reading the complaint, it is more than clear that "false allegations have been made by the ED solely with a mala fide intention of projecting a negative image of Goyal", it ...

Lenders of Jet Airways ask JKC to produce air operator certificate

The lenders said 13 crore out of the 200 crore payment towards the total amount came 'from other sources'

Enough material against Naresh Goyal for conspiring in bank fraud: Court

There is sufficient material at this stage to prima facie show involvement of Jet Airways founder Naresh Goyal and his wife Anita in a money laundering case linked to an alleged fraud of Rs 538 crore at Canara Bank, a special court here noted while taking cognizance of the Enforcement Directorate's chargesheet against the couple in the case. Besides the Goyals, the central probe agency has named four companies --Jet Airways (India) Ltd (JIL), Jetair Pvt Ltd, Jet Enterprises Pvt Ltd and Jet Airways LLC, Dubai -- as accused in the case. M G Deshpande, the special judge hearing cases filed under the Prevention of Money Laundering Act (PMLA), took cognizance of the chargesheet on November 1, while a detailed order was made available on Friday. The court also asked the Goyals to remain present before it on November 9. The Enforcement Directorate (ED) arrested Goyal on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central .

ED attaches Rs 538 cr assets of Jet founder Goyal, others in London, Dubai

The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 503 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the federal agency said in a statement. Goyal, 74, was arrested by the ED on September 1 and the agency filed a charge sheet against him on Tuesday before a special Prevention of Money Laundering Act (PMLA) court in Mumbai.

NCLAT adjourns hearing of Jet Airways' insolvency case to November 9

Insolvency appellate tribunal NCLAT on Wednesday adjourned the hearing on the Jet Airways matter to November 9 over the issue of transfer of ownership of the grounded air carrier to the Jalan Kalrock Consortium (JKC). When the matter was called for hearing on Wednesday, Additional Solicitor General N Venkataraman informed the two-member bench that the identical matter is also listed before the Supreme Court for hearing next week on November 7. Venkataraman, who is representing lenders including SBI and other banks in this matter, requested the bench to adjourn and list it for hearing after that, which was accepted by the bench headed by Chairperson Justice Ashok Bhushan. Though, senior advocate Krishnendu Dutta appearing for JKC, requested NCLAT to proceed and said the matter before the Supreme Court on November 7 had no direct connection with the matter before the appellate tribunal. Lenders of Jet Airways approached the Supreme Court last month over the NCLAT order granting more

ED files chargesheet against Jet Airways founder in bank fraud case

The Enforcement Directorate (ED) on Tuesday filed a chargesheet against Jet Airways founder Naresh Goyal and five others in the alleged fraud of Rs 538 crore at the Canara Bank. Goyal was arrested by the ED on September 1 under the Prevention of Money Laundering Act (PMLA). He is currently in judicial custody and lodged at the Arthur Road jail here. The chargesheet against Goyal and others was filed in a court here, which is likely to take cognisance of it on Wednesday, a lawyer linked to the case said. The money laundering case stems from the first information report (FIR) of the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and some former company executives of the now-grounded private airline in connection with the alleged fraud case. The FIR was registered on the bank's complaint, which alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore, of which Rs 538.62 crore was outstanding. ...

NCLAT adjourns Jet Airways hearing to Nov 1 as creditors seek more time

The insolvency appellate tribunal NCLAT on Thursday adjourned its hearing on Jet Airways matter to November 1, as the creditors sought more time to file a reply over the compliance affidavit filed by the Jalan-Kalrock Consortium -- the successful bidder of the grounded carrier. Counsel appearing for the creditors sought more time to complete their pleadings during the proceedings of the National Company Law Appellate Tribunal (INCLAT), which was accepted by a three-member bench. The creditors, which suspect the source of Rs 200 crore paid by the Jalan-Kalrock Consortium, have to file a reply over the compliance affidavit filed by the successful bidder. Last week, Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told NCLAT that there are apprehensions about the source of funds, which deposited the money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be pa

Supreme Court likely to hear Jet Airways lenders plea on October 12

JKC is the successful bidder for Jet Airways

Lenders of Jet Airways question source of revival infusion by JKC

Say payment not in compliance with resolution plan; consortium questions lenders' intent to transfer airline's ownership

JKC infuses Rs 100 crore for revival of Jet, eyes resuming ops in 2024

JKC has thus infused Rs 100 crore by 31 August and another Rs 100 crore by 30 September

Jalan Kalrock Consortium infuses Rs 100 crore in cash-strapped Jet Airways

JKC also said it is expecting the airline to be up and running next year with the launch date likely to be announced in the next few days

HC asks ED to file affidavit on Jet founder plea challenging his arrest

The Bombay High Court on Wednesday directed the Enforcement Directorate (ED) to file its affidavit in response to Jet Airways founder Naresh Goyal's plea challenging his "illegal" arrest in a money laundering case linked to bank loan default. Goyal, in his plea, claimed his arrest was illegal as it was done without following provisions of the Prevention of Money Laundering Act (PMLA) and also challenged orders of a special court which had sent him to the ED custody first and thereafter to jail under judicial remand. When the plea was taken up for hearing on Wednesday by the HC, advocate Hiten Venegaonkar, appearing for the central agency, sought time to file their reply affidavit. Senior counsel Amit Desai, appearing for the 74-year-old businessman, urged the court to grant a short date for hearing and pointed to his client's advanced age. A division bench of Justices Revati Mohite Dere and Gauri Godse then said it has to give the other side time to respond. "He (Goyal) can file .

Jet Airways founder Goyal sent to 14-day custody in bank fraud case

A court here on Thursday remanded Jet Airways founder Naresh Goyal to 14-day judicial custody in a money laundering case linked to an alleged fraud of Rs 538 crore at the Canara Bank. The Enforcement Directorate (ED) arrested Goyal on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office here. The 74-year-old businessman was produced before the court at the end of his ED remand on Thursday. Goyal was sent to judicial custody by the court as no further remand was sought by the probe agency. The money laundering case stems from an FIR of the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and some former company executives of the now grounded private airline in connection with an alleged Rs 538-crore fraud case at the Canara Bank. The FIR was registered on the bank's complaint which alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune

Jet Airways founder Naresh Goyal's ED custody extended till Sep 14

A special court here on Monday extended till September 14 the ED remand of Jet Airways founder Naresh Goyal, who has been arrested in a money laundering case linked to an alleged fraud of Rs 538 crore at Canara Bank. Goyal was arrested by the Enforcement Directorate (ED) on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office here. The 74-year-old businessman was produced before the special PMLA court at the end of his initial remand on Monday. The central probe agency sought his custody for another four day for further investigation in the case. The ED told the court that maximum money siphoned off has been stacked in foreign accounts and there is a person in the United Arab Emirates (UAE) to look after it. Special judge for cases under PMLA, MG Deshpande, then extended Goyal's custody till September 14. The money laundering case stems from an FIR of the Central Bureau of Investigation (CBI) ...

The Rise and Grounding of Jet Airways' Naresh Goyal