Brief by Shorts91 Newsdesk / 07:40am on 02 Sep 2023,Saturday Business
Naresh Goyal, founder of the now-defunct Jet Airways, was arrested on Friday by the Enforcement Directorate in a ₹538 crore fraud case involving Canara Bank. Goyal was detained for questioning after missing two previous summons related to a CBI FIR filed in May over allegations of cheating, conspiracy and misconduct. Searches were conducted at Goyal's Mumbai residence and offices. The CBI complaint alleges he caused wrongful loss of ₹538.62 crore to Canara Bank. Jet Airways shut operations in April 2019 after 25 years due to heavy losses and failure to raise funds. Goyal's arrest comes amid probes into the airline's financial troubles before its collapse.
