Naresh Goyal

In a huge relief for former Jet Airways Chairman Naresh Goyal and his wife Anita Goyal, the Bombay High Court on Thursday quashed the Enforcement Directorate (ED)'s case

The Bombay High Court has directed the Enforcement Directorate not to take any coercive steps till January 31 against Jet Airways founder Naresh Goyal and his wife Anita Goyal in a money laundering case. A division bench of Justices Revati Mohite Dere and P K Chavan had granted interim relief to the couple last week. The detailed order was available on Tuesday. The bench is hearing the couple's pleas to quash the Enforcement Case Information Report (ECIR), somewhat similar to an FIR, against them. In 2020, the agency had filed a criminal case against the Goyals and others under the Prevention of Money Laundering Act (PMLA) after taking cognisance of a Mumbai police FIR. The Mumbai police FIR pertains to charges of alleged fraud by the Goyals and others against a city-based travel company. The Goyals, represented by senior advocates Ravi Kadam and Abad Ponda, told the court that there is no predicate offence, as required under the PMLA, to investigate the ECIR. They submitted that

They started something big, different and new. But somewhere down the line, they lost their way, even landed on the wrong side of the law. Here's a look at six high-fliers who fell from grace

As efforts are on to restart services of Jet Airways, Orion IT Parks Pvt Ltd -- whose shareholders are Murari Jalan and Ankit Jalan -- will extend an Inter-Corporate Deposit (ICD) of Rs 50 crore

He also said that the "terms" accepted by the Jet Airways creditors did not make sense to CAPA

Stating that the police didn't consider crucial facts of the case, the ED has filed an intervention application before a court

Sources said the probe agencies are planning to move an application, seeking more time with respect to the filing of chargesheet in matters

Jet Airways' loan exposure to the crisis-ridden Yes Bank is about Rs 550 crore.

DHFL CMD Kapil Wadhawan, recently arrested by the ED in another case, has also been called for questioning

This will be the third consecutive day of questioning. On Wednesday, he was summoned to ED Mumbai's office, where he was interrogated for four hours and taken to his residence later in the evening

Earlier, the financial probe agency had registered a case of Foreign Exchange Management Act violations against the airline and Goyal last year

Some of the country's biggest and most-storied businessmen saw their fortunes fade in 2019.

Synergy Group is the only interested entity shortlisted by the Resolution Professional's team to file a plan for the defunct airlines

The grounded Jet Airways owes over Rs 8,000 crore to its lenders. Besides, the airline is estimated to have a total liability of about Rs 25,000 crore which includes dues of operational creditors.

The probe agency has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal

History shows that links between corporate powerhouses and terror financing are not new. Nor are they restricted to industries such as cinema or real estate

It's anybody's guess whether investigating agencies would be able to pin Naresh Goyal down this time

The enforcement agency is probing Goyal's offshore investments which were made through diversion of funds from Jet Airways to 19 shell companies allegedly managed by him

This is the first time that the central agency is grilling him after it conducted searches against him last year

The ED has taken possession of various incriminating documents