A special PMLA court in Mumbai on Saturday remanded Jet Airways founder Naresh Goyal in the Enforcement Directorate's custody till September 11. This is in relation to an alleged case of bank fraud of Rs 538 crore.
 
74-year-old Goyal was arrested by the Central agency late last night under the Prevention of Money Laundering Act following a long session of questioning at its office in Mumbai.
 
He was produced before the court today. The money laundering case stems from a First Information Report registered by the Central Bureau of Investigation against Jet Airways, Goyal, his wife Anita and some former executives of his defunct airline.
 
The FIR was registered on a complaint filed by Canara Bank alleging that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore, of which Rs 538.62 crore is outstanding. It alleged that the company diverted funds to its subsidiaries. Reportedly, the account was declared "fraud" on July 29, 2021.