Naresh Goyal, the founder of Jet Airways, faced charges related to a ₹538 crore fraud at Canara Bank. He appeared in a special court last Saturday, pleading emotionally about his dire situation. Goyal, in his seventies, spoke about his deep distress, mentioning he’d rather pass away in jail than continue his current life.
Goyal, who was arrested on September 1st last year by the Enforcement Directorate (ED) for the alleged bank fraud, is now in Arthur Road jail. He applied for bail, and during his court appearance, he requested a personal hearing. The judge noted Goyal’s frail condition, as he trembled and needed help standing.
He shared his physical ailments, including severe knee pain and complications while urinating, sometimes with blood. He also expressed his struggle with the journey to and from J J Hospital for medical treatment, which he found extremely challenging.
Naresh Goyal spoke of his wife Anita’s advanced-stage cancer and their daughter’s poor health, highlighting his family’s hardships. With tears, he asked the court to let him stay in jail rather than seeking further hospital treatment, saying he’s lost all hope for life.
The judge acknowledged Goyal’s pleas and assured him of adequate mental and physical care. Meanwhile, Goyal’s lawyers have been directed to address his health concerns.
In his bail application, Goyal mentioned several health problems including heart, prostate, and orthopedic issues, arguing his innocence. The court will resume hearing his bail plea on January 16th.
The ED’s case against naresh Goyal, under the Prevention of Money Laundering Act (PMLA), originates from a Central Bureau of Investigation (CBI) FIR. The FIR involves Jet Airways, Goyal, his wife, and some former executives, accused of causing a ₹538 crore loss to Canara Bank. The bank had sanctioned loans worth ₹848.86 crore to Jet Airways, with ₹538.62 crore still pending.
Who is naresh goyal
Naresh Goyal, born on July 29, 1949, in Punjab, India, is the founder and former Chairman of Jet Airways. Starting his career in 1967, he grew Jet Airways into a leading airline, commencing operations in 1993.
Forbes listed him as the 16th richest Indian in 2005, though he later fell from the list. Facing financial crises, Goyal stepped down from Jet Airways in 2019. He faced legal issues, including an arrest in 2023 for alleged money laundering. Goyal’s personal life includes his marriage to Anita and their two children.
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