The Indian court has denied Naresh Goyal permission to fly overseas after the government told about the investigation involving Jet Airways India Ltd is underway which involved $2.6 Bn fraud. Once the largest airline by market value is now turned to the heads.
On the permission to fly overseas, Justice S K Kait of the single-judge bench of the Delhi High Court expressed apprehension about Naresh Goyal may not return like others facing allegations of fraud. Kait said, “I won’t name but some people are sitting outside the country, and India is not able to bring them back.”
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Jet Airways owes at least Rs 73 Bn ($1.1 Bn) to banks and is undergoing bankruptcy resolution after it defaulted the loans that were due by Dec, 31. The court sought government’s written response and said that it will hear the case again on Aug. 23.