CBI raids Jet Airways founder's premises: Rs 538 crore bank fraud case

In the bank fraud case, the CBI on Friday searched 7 locations including the Mumbai office of Jet Airways (India) Limited founder Naresh Goyal. Actually, Canara Bank has registered a new case of bank fraud of Rs 538 crore. This action was taken on this. Naresh Goyal's wife Anita and some others are also accused in the case.
CBI officials said, “Goyal faces allegations of misappropriation of money and other irregularities. The CBI carried out raids at the residences and offices of Naresh Goyal, his wife Anita Goyal and former director of the airline Gaurang Anand Shetty.
Jet Airways was once one of the largest private airlines in India and the airline had the status of the largest private airline in the South Asian nation. However, Jet Airways was grounded on 17 April 2019 due to debt burden. Thereafter, in June 2021, the airline was taken over by the Jalan-Kalrock consortium after winning the bid under the bankruptcy resolution process of the National Company Law Tribunal (NCLT).
This consortium is a joint company of Murari Lal Jalan and Kalrock Capital. Jalan is a Dubai-based Indian-origin businessman. Whereas Kalrock Capital Management Limited is a London-based global firm working in the field of Financial Advisory and Alternative Asset Management. Its founder is Florian Frech.
In the early 1990s, ticketing agent-turned-entrepreneur Naresh Goyal started Jet Airways to give people an alternative to Air India. At one time Jet had a total of 120 planes. Operating with the tagline 'The Joy of Flying', the company operated 650 flights a day when it was at its peak. When the company closed, it had only 16 planes left. By March 2019, the company's loss had reached Rs 5,535.75 crore.