No chargesheet by CBI against Naresh Goyal 3 years after FIR; he seeks discharge in ED case

Three years after the CBI filed a First Information Report (FIR) against Naresh Goyal, the founder of Jet Airways, the agency has not yet submitted a chargesheet. Goyal, now 77 years old, has now filed a discharge plea in a related case filed by the Enforcement Directorate (ED). The ED opposes Goyal's plea, stating that the lack of a predicate offence cannot justify his discharge.

Goyal denies any wrongdoing, citing financial difficulties faced by Jet Airways due to factors beyond his control, such as competition from low-cost airlines and rising aviation fuel prices. He claims that Canara Bank's Rs 538-crore loan facility had non-fund-based components, primarily letters of credit paid to vendors and payments towards oil companies and airport operators.

The ED alleges that these funds were used for personal benefit by inflating expenses. Goyal, who was arrested in September 2023 and granted bail in 2024, alleges that he continues to suffer from health issues and emotional distress following his wife's death in 2024. The ED maintains that the non-filing of the FIR cannot be a valid ground for Goyal's discharge.