The founder of Jet Airways (JAI, Mumbai International) and his wife have won a restraining order against India's Directorate of Enforcement (ED) which prevents that agency taking any investigative action against the couple until the end of the month.
Naresh and Anita Goyal won the order on January 17 in relation criminal case filed against them over alleged money laundering and foreign exchange offences while operating the first iteration of Jet Airways.
Counsels Ravi Kadam and Aabad Ponda, who represent the Goyals, are attempting to have the investigation dismissed after Mumbai police, who investigated the source complaint which came from a travel agency and charged the pair, later closed the case. However, the ED is attempting to pursue the matter.
Now trying to relaunch under new ownership, Jet Airways ceased operations in April 2019 after accruing debts of more than USD1.2 billion and failing to secure last minute emergency funding to keep flying. In February 2020, Mumbai police lodged a First Information Report (FIR) against the Goyals, charging them with conspiracy, forgery, and cheating offences. One year later, despite opposition from the ED, Mumbai Police withdrew the charges.
However, based on that FIR, the ED initiated its own case against the Jet Airways' founders, alleging money laundering and foreign exchange offences. The federal agency also says in its arguments against dismissing their investigation that the original police investigation was sub-standard and cut corners. However, offering the Goyals a short-term reprieve, Justices Revati Mohite-Dere and Prithviraj Chavan issued the restraining order that prevents the ED from actively investigating them until the next court hearing, which is January 31.
The well-funded Goyals have spent much of their time since Jet Airways collapsed dealing with the legal fallout, which included investigations by India's Income Tax Department, the Serious Fraud Investigation Office, and the Central Bureau of Investigation.
