NEW DELHI: Former Jet Airways promoter Naresh Goyal, his wife Anita Goyal and his associates were booked by the CBI on Friday for allegedly defrauding the Canara Bank to the tune of Rs 538 crore. The agency also carried out searches at seven locations including official and residential premises in connection with Goyal and his associates.
The CBI had on Wednesday registered an FIR against Goyal, his wife, former airline director Gaurang Ananda Shetty along with other associates and some unknown public servants for commission of offences punishable under section of the Prevention of Corruption Act, the investigation of which has been entrusted to Bank Frauds and Securities branch (BSFB), New Delhi.
The case was registered on the basis of preliminary probe on a complaint file by the officials of Canara Bank in November last year. The company which is 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 is also facing several hurdles in the wake of the top officials resigning and the lenders not handing over the ownership over debts.
During 2011-18, Rs 14,552.44 crore was given as Loan to Jet Lite ( India) Ltd. (JLL) and in return Rs 13,529.62 crore was received from JLL. Sensing irregularities, the State Bank of India (SBI) on behalf of the consortium mandated Ernst & Young LLC to conduct a forensic audit on the company for the period from 1 April 2011 to 19 June 2019 (“review period”) vide its engagement agreement dated October 19, 2019.
The final audit report was submitted by EY on February 10.2021. The audit conducted in the accounts of Jet Airways revealed fraudulent features like diversion and siphoning of funds through various means including commission expenses to General Selling Agents (GSA) and personal expenses of company staff.
The company indulged in “siphoning funds through Jet Lite ( India) Ltd ( JLL) by way of making advances and investing and subsequently writing off the same by making provision”. The Company has diverted the funds for making transfers to the subsidiary ( JLL) in the form of loans and advances and investments extended to the company.
