CBI raids Jet Airways Mumbai office, 11 other locations in bank fraud case; check details

The allegations pertain to alleged diversion of funds among other irregularities, they said. The company was in the process of revival after Jalan Kalrock Consortium won the bid for Jet Airways under the insolvency resolution process at National Company Law Tribunal (NCLT).

In a recent development, the Central Bureau of Investigation (CBI) on Friday (May 5) conducted searches at as many as seven locations including the premises of Jet Airways and its founder Naresh Goyal in Mumbai in connection with an alleged Rs 538-crore fraud case in Canara Bank, officials said.

The CBI searches were spread across residences and offices of Goyal, his wife Anita, and former airline director Gaurang Ananda Shetty. 

The agency has registered a new case of alleged bank fraud of Rs 538 crore on a complaint from Canara Bank, they said.

The allegations pertain to alleged diversion of funds among other irregularities, they said. The company was in the process of revival after Jalan Kalrock Consortium won the bid for Jet Airways under the insolvency resolution process at National Company Law Tribunal (NCLT).

Meanwhile, it can be seen that Jet Airways shuttered operations back in April 2019. After flying for more than 25 years, the once-storied Jet Airways went into an insolvency resolution process and the Jalan Kalrock Consortium (JKC) emerged as the winning bidder. 

The airline's air operator certificate was revalidated by aviation safety regulator DGCA in May 2022, following which it announced its plans to recommence operations in September 2022, but the relaunch was delayed.