Enforcement Directorate searches Jet Airways founder Naresh

first_imgNEW DELHI: The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with acase of alleged contravention of the foreign exchange law, officials said. They stated that the searches are being carried out under the provisions of the Foreign Exchange Management Act (FEMA) and are aimed at Also Read – Shah urges women to shun plastic bags Advertise With Us gathering additional evidence. Premises in Mumbai and Delhi are being searched, they added. A full-service carrier, Jet Airways shuttered operations on April 17 afterrunning out of cash. A ministry of corporate affairs (MCA) inspection report had found large-scale irregularities, including diversion of funds, at the airline, sources had said in July. In March, Goyal stepped down as chairman of the airline.Currently, Jet Airways is undergoing resolution process under the Insolvency and Bankruptcy Code.last_img