Jet airways founder Naresh Goyal’s ED remand extended till Sep 14

Goyal, 74, was produced before the court on Monday after his 10-day remand ended and the ED sought a four-day extension of custodial interrogation as he was not cooperating with the investigations.The ED is probing an alleged money-laundering case against Goyal, his wife Anita and other officials arising out of the Rs 538-crore loan fraud case involving the public sector, Canara Bank.After several hours of investigations, he was arrested on September 1 for allegedly diverting the loan amounts from the bank to clear off his private loans and commitments, between 2011-2019, and diverting the money for other purposes.The money-laundering case arose from a Central Bureau of Investigation (CBI) FIR lodged against the Goyal couple and others after the Canara Bank filed a complaint in May.In its complaint, the bank had stated that it extended loans and credit limits to Jet Airways worth Rs 849 crore, of which over Rs 538-crore was outstanding and then declared a fraud in July 2021.In July, the ED raided the Goyals’ home and office premises and later the ED entered the picture and nabbed him in the money-laundering case this month.--IANSqn/uk

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)