Jet Airways Crisis: MCA To Probe Into Jet Airways For Indulging Into Several Malpractices

Ministry of Corporate Affairs (MCA) has ordered its Serious Fraud Investigation Office (SFIO) department to probe into Jet Airways.

  • Jet Airways Crisis: MCA To Probe Into Jet Airways For Indulging Into Several Malpractices
  • Jet Airways Crisis: MCA To Probe Into Jet Airways For Indulging Into Several Malpractices
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Jet Airways is again in the news for all the wrong reasons. Only when the Enforcement Directorate (ED) and the Income Tax (IT) Department were already probing into its stake sales and tax irregularities, Ministry of Corporate Affairs (MCA) has now ordered its Serious Fraud Investigation Office (SFIO) department to probe into airline.  

The Central Government has ordered an investigation into Jet Airways and its group of companies including Jet Lite, AirJet Technologies etc. and said that the company was prima facie indulging into malpractices like mismanagement through siphoning, writing-off, diversion of funds and other financial irregularities, including but not limited to, preferential/ related party transaction, prejudicial to the public interest.  

Also Read: Each Sunrise Hopes To See The Blue And Yellow Stripes Soaring Across The Skies Again: Capt Tapesh Kumar, Commander, Boeing 737 At Jet Airways

In the letter issued by the Central Government, they have stated that the officer of SFIO should complete the investigation within six months and submit the report to the Central Government. Notably, a circular has been issued by MCA to ensure that Naresh Goyal and his wife Anita Goyal do not leave the country until the investigation is over. On May 25, they were stopped from travelling to London via Dubai as they had boarded an Emirates flight.
 



 
Letter issued by Central Government

  

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