Officials from India's Central Bureau of Investigation (CBI) raided the homes and workplaces last week of Jet Airways (Mumbai International) founder Naresh Goyal, his wife, and another former director of the airline.
India-based media are reporting that the CBI initiated the raids on the basis of a complaint filed by the Canara Bank concerning an alleged INR5.38 billion Indian rupee (USD65.5 million) fraud. ch-aviation does not say the allegation/s is true, only that it is made. Reportedly, the raids took place on May 5 across seven addresses in Delhi, targeting the private residences and workplaces of Goyal, his wife Anita, ex-Jet Airways director Gaurang Ananda Shetty, and at least one unnamed bank official.
Indian law enforcement agencies have taken an interest in the Goyals ever since Jet Airways collapsed in April 2019. A former Directorate of Enforcement (ED) money laundering prosecution against the husband and wife team was dismissed by Mumbai's High Court in February. The duo have vigorously contested legal action against them ever since Jet Airways ceased operations.
The Goyals are no longer connected with Jet Airways, which administrators are attempting to sell to UAE-based businessman Murari Lal Jalan and London-based Kalrock Capital. However, amid longstanding disputes over payments and timelines, the transaction is yet to fully finalise. The Jalan Kalrock consortium (JKC) hopes to restart the airline, once India's largest privately-owned carrier.
Meanwhile, the JKC needs to find a new chief executive officer for Jet Airways after the well-respected CEO designate Sanjiv Kapoor resigned last week. He spend just 13 months in the role. "JKC remains fully committed to the revival of Jet Airways, and the executive committee of JKC will oversee CEO-designate responsibilities until a suitable replacement is in place," reads a statement issued by the airline following Kapoor's resignation. "We are in the last leg of closing the transfer of ownership of Jet Airways to JKC, subsequent to which we will settle outstanding amounts payable to previous creditors as per our approved resolution plan and shall, soon thereafter, recommence the commercial operations of Jet Airways as per our re-launch plans."
Kapoor did not provide reasons for his resignation, only saying that he believes Jet Airways will relaunch and can contribute to the Indian commercial aviation market.
