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Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline “diverted” money to some tax havens, the Enforcement Directorate (ED) alleged , after arresting the businessman in a money-laundering case.
Goyal (74) was taken into custody late on Friday night after the federal probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED’s custody for 10 days, till September 11.
The agency issued a statement, claiming that the total non-performing assets (NPAs) of Goyal’s group — Jet Airways (India) Limited or JIL — stood at Rs 5,951.46 crore, with the largest share (Rs 1,636.23 crore) being held by the State Bank of India (SBI) among the consortium of nine banks that had exposure to the company and its promoters.
