The CBI conducted searches at seven locations related to Jet Airways and its founder Naresh Goyal in Mumbai on Friday allegedly over a bank fraud case. According to reports, the searches were in connection with an alleged Rs 538 crore fraud case in Canara Bank.
The CBI searches were spread across residences and offices of Goyal, his wife Anita, and former airline director Gaurang Ananda Shetty.
The agency has registered a new case of alleged bank fraud of Rs 538 crore on a complaint from Canara Bank, they said.
The allegations pertain to alleged diversion of funds among other irregularities, they said.
The company was in the process of revival after Jalan Kalrock Consortium won the bid for Jet Airways under the insolvency resolution process at National Company Law Tribunal (NCLT).
The NDTV reported that the agency alleged between April 1, 2011, and June 30, 2019, the airline reportedly spent Rs1,152.62 crore on professional and consultancy expenses. Suspicious transactions totalling ₹ 197.57 crore were also identified among entities linked to Jet Airways, the publication reported.
NDTV reported Jet Airways paid Rs 420.43 crore of the total Rs 1,152.62 crore in professional and consultancy expenses to entities whose business nature did not match the service descriptions on their invoices.
(With PTI inputs.)
