Police in Liechtenstein froze the assets of one of the two investors in Jet Airways (JAI, Mumbai International), Florian Fritsch, after raids of his properties in Liechtenstein, Switzerland, and Austria, Bloomberg has reported.

Investigators in the three Alpine countries seized Fritsch's assets as a part of an investigation into money laundering. In a statement sent to ch-aviation, Kalrock Capital underlined that neither the fund not its acquisition of Jet Airways were in any way related to the ongoing investigation, and as such, the raids would have no impact on the transaction. The Liechtensteiner police have refused to reveal any further details.

"The investigation, which is ongoing, has been initiated based on anonymous complaints filed in relation to certain businesses where Florian is one of the financial investors in his personal capacity. The disputes are commercial in nature. Florian has already filed complaints with the concerned High Court regarding these disputes and complaints, which are also being investigated," Kalrock Capital said.

The airline has also denied India's CNBC-TV18 report that Kalrock and fellow investor Dubai-based Indian businessman Murari Lal Jalan - are yet to make two urgent payments totalling INR2.4 billion rupees (USD29.4 million). The consortium was purportedly due to pay INR520 million (USD6.4 million) to airline employees who were not paid before and after the April 2019 collapse of the airline. The deadline was November 11. Separately, the two investors also pledged in their resolution plan to pay INR1.85 million (USD22.9 million) to various lenders by November 16. This payment has yet to be made.

A Jet spokesperson has since told ch-aviation that the report was inaccurate.

"The deadlines (November 11, 2022, and November 16, 2022) mentioned in the news report were set based on the assumption that the banks/past lenders transfer the ownership of Jet Airways to Jalan Kalrock Consortium within 180 days of the latest 'effective date' as per the approved resolution plan. As the handover from the lenders is still awaited, the revised payment timelines are yet to be determined," the airline's spokesperson said.

Jet Airways confirmed that the investors were in full compliance with the resolution plan and "deeply committed" to the re-launch of the airline.

Jet Airways regained its AOC in May 2022 with plans to return during the third quarter of 2022. However, it has made limited progress since then and has yet to secure aircraft for its resumption of operations, despite reports about ongoing talks concerning either A320neo Family or B737 MAX Family aircraft.