Naresh Goyal of Jet Airways arrested, ED action in Rs 538 crore scam He did not appear before the ED twice earlier Updated: Sep 1st, 2023 ED has taken major action in money laundering cases. Jet Airways Chairman Naresh Goyal has been arrested. Naresh Goyal is arrested after interrogation in the 538 crore bank scam. The ED may produce the court tomorrow and seek remand. He did not appear before the ED twice earlier He did not appear before the ED twice earlier. But today he has been arrested after interrogation. The ED's case against Goyal is based on a CBI FIR registered in May this year. On May 5, CBI officials raided seven locations in Mumbai, including Goyal's residence and his office. What is the matter? The CBI raided the residences and offices of former airline director Gaurang Anand Shetty besides Naresh Goyal and his wife Anita. A loan of around Rs 538 crore was taken by Jet Airways from Canara Bank. According to the CBI FIR, on November 23, 2022, Canara Bank officials filed charges of fraud, criminal conspiracy against Naresh Goyal, Anita Goyal, Gaurang Anand Shetty and unknown persons of Jet Airways. Why is Naresh Goyal trapped? Earlier in February 2023, the Bombay High Court dismissed the money laundering case against Naresh Goyal and his wife. However, the court said that if any new case comes up, the ED can investigate it. Now the ED has arrested Goyal after questioning the proceedings in the case. According to the investigating agency, between April 2011 and June 30, 2019, the company incurred Rs 1152.62 crore in professional and consultancy expenses. The investigation revealed that out of Rs 1152.62 crore, the company paid Rs 420.43 crore for expenses to professionals and consultancies who had nothing to do with such services.

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