More Trouble For Jet Airways as ED Raids Founder Naresh Goyal's Residence

Cash strapped Jet Airways had closed down its operations on April 17, 2019, and the problems just don't seem to end. Jet Airways had shut down its offices in Mumbai and Delhi in May and the Ministry of Corporate Affairs was probing into Jet Airways for indulging in several malpractices. 

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On Friday, August 23, the Enforcement Directorate (ED) raided Jet Airways founder Naresh Goyal's premises in Mumbai and Delhi in connection with a case of an alleged contravention of the foreign exchange law. The ED is conducting the searches under the provision of the Foreign Exchange Management Act (FEMA) and is aimed at collecting more evidence.                                                                                                                                                                                                                             
Notably, the investigation has found malpractices like tax irregularities, diversion of funds etc. More details on the probe are awaited. 

Also Read: Neeta And I Have No Role At Jet Airways Even After Making Every Possible Sacrifice: Naresh Goyal In His Letter To Employees