Jet Airways has sunk a debt of six thousand crores, know which bank suffered the most

Naresh Goyal, chairman of Jet Airways, has been arrested by the ED only after getting solid evidence against him. Jet Airways, once the leading domestic airline, has come to the fore in a series of financial frauds in which the role of the airline's owner is visible. As chairman, Goyal made many such payments on which questions are being raised.

Sep 2, 2023 - 23:07
Jet Airways has sunk a debt of six thousand crores, know which bank suffered the most

Jet Airways Chairman Naresh Goyal has been arrested by the investigating agencies only after getting solid evidence against him. Many types of financial irregularities have come to the fore in Jet Airways, once considered the head of the domestic airline, and Goyal's role is also directly visible in this.

Not only has Goyal himself, as chairman, made a number of financial payments that have raised questions, but he has also ensured that some of his family members are also paid from the company's account.

Amit Agarwal, former CFO of Jet Airways, has admitted before the Enforcement Directorate that payments to some dubious consultants and professional companies were made only after the instructions and approval of Chairman Goyal. Several payments were made to these companies directly on the instructions of Goyal without any information being given to the finance department of Jet Airways.

A total of Rs 5,951.46 crore of three private and six public sector banks have sunk into Jet Airways. SBI has a maximum loss of Rs 1636.23 crore. Yes Bank Rs 1084.44 crore, PNB Rs 956.11 crore, IDBI Bank Rs 594.43 crore, Canara Bank Rs 543.61 crore and ICICI Bank Rs 529.05 crore, Bank of India Rs 266.12 crore, Indian Overseas Bank Rs 171.74 crore and Syndicate Bank has lost Rs 169.73 crore.

These banks have declared the said loan amount as NPA. This has been revealed through the forensic audit conducted by SBI. The audit has been done by E&Y Company. An FIR was lodged by the CBI against 74-year-old Naresh Goyal on March 5, 2023. Sections like cheating and criminal conspiracy have been imposed on them.

A major allegation against him is that the payment of Rs 1152.62 crore as professional and consultancy expenses to various agencies and companies between the years 2011-12 to the year 2017-18 was made on the instructions of Goyal and this No record of payment has been maintained.

Jet Airways' auditor had already expressed doubts about these payments. It has also been revealed that a huge amount has been spent on the personal staff of Naresh Goyal, expenses on phones and vehicles, etc. In this regard, the norms of a professional company have been put on hold.

The audit report has also revealed that Naresh Goyal's wife Anita Goyal has also been paid Rs 9.46 crore. His daughter and son have also been paid separately.

Muskan Kumawat Journalist & Writer