3 years, no chargesheet: Naresh Goyal seeks exit from Jet Airways money laundering case

Three years have passed since the CBI filed a First Information Report (FIR) against 77-year-old Naresh Goyal in the Jet Airways alleged Rs 538 crore loan siphoning case, yet no chargesheet has been issued. Goyal, who was a non-executive chairman of the aviation company, has now filed a discharge plea in the related case filed by the Enforcement Directorate (ED).

The ED has opposed his plea, stating that the lack of a predicate offense cannot be grounds for Goyal's discharge from the case. Goyal denies any wrongdoing, attributing the airline's financial troubles to factors beyond his control, such as increased competition and higher aviation fuel prices. An FIR was filed on May 3, 2023, by the CBI following a complaint by Canara Bank alleging misuse of loans for personal use.

The ED also filed a case based on the CBI complaint to investigate money laundering into offshore accounts. However, the CBI has not identified any predicate offense or named any public servants. Goyal has claimed health issues and emotional distress due to his wife's death in 2024. The airline had suspended operations in 2019, leading to job losses for employees.

Goyal's plea alleges that the National Company Law Tribunal's liquidation proceedings will result in the sale of assets, generating over Rs 3500 crore for debt repayment.