The Airlines stopped operations on April 17 after running out of cash.
The Ministry of Corporate Affairs (MCA) ordered the Serious Fraud Investigation Office (SFIO) on Thursday to probe the alleged diversion of funds and financial irregularities by Jet Airways and its subsidiary companies.
The report was first prepared in May by the Western region unit of the MCA after it concluded that certain transaction by Jet was of 'suspicious nature' and therefore recommended a detail investigation into it.
Based on the report, MCA had ordered a Lookout Notice against the Airline's promoter Naresh Goyal, his wife Anita, and few other senior executives. Goyal and Anita were later off-loaded from Mumbai airport while they were on their way to Dubai.
In May, Enforcement Directorate (ED) questioned the airline's executives about overseas investment in Jet Airway's loyalty programme. Last month, the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by the lenders' consortium, led by State Bank of India (SBI) against Jet Airways.
The Airlines stopped operations on April 17 after running out of cash.
The tribunal also appointed Ashish Chhauchharia of Grant Thornton as the resolution professional and asked him to submit a progress report by July 5.
The SFIO investigation will involve Jet Airways, Jet Privilege Limited, Jet Lite, Air jet Ground Services, Air Jet Engineering, Air Jet Training Services, Air Jet Security and Allied services, and Jet Privilege Pvt Ltd.
Meanwhile, Goyal has filed a writ petition in Delhi High Court against the Lookout Circular (LOC) which is likely to be heard on Friday. Sources say the government will oppose the petition, saying Goyal has no financial interests in India and is likely to flee.
Out Of Tarmac
- Naresh Goyal’s appeal against the Lookout Circular will be heard on Friday by Dehi High Court
- Govt will oppose the petition, saying Goyal has no financial interests in India and is likely to flee
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Naresh Goyal")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}