Jet Airways Founder Naresh Goyal Seeks More Time To Appear At ED Amid Rana Kapoor Probe

Law & Order

Naresh Goyal - Former chairman of Jet Airways, on Wednesday, has sought additional time from the ED to appear before it amid ongoing Rana Kapoor probe

Written By Suchitra Karthikeyan | Mumbai | Updated On:

After being issued a summons by the Enforcement Directorate in connection with the ongoing probe into Yes Bank founder Rana Kapoor, Naresh Goyal - Former chairman of Jet Airways, on Wednesday, has sought additional time from the agency to appear before it, as per sources. Goyal has allegedly stated to the ED that his sister is suffering terminally from cancer. Sources report that Goyal has told the ED that they come to the hospital to record his statement.

BIG: ED summons Naresh Goyal, Subhash Chandra after Anil Ambani amid Rana Kapoor probe

ED summons Goyal, Gehlaut, Subhash Chandra

Earlier on Monday, ED issued summons to Indiabulls chairman Sameer Gehlaut and CEO Gagan Banga allegedly in connection to the probe into Yes Bank founder Rana Kapoor, as per sources. The ED has also reportedly summoned the chairman of Essel group Subhash Chandra (former chairman of Zee TV) and Jet Airways founder Naresh Goyal in connection to the same case. This development comes after summons already being issued to Reliance Group chairman Anil Ambani. When Republic TV contacted Banga, he said that he had not received any such summons from ED.

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Anil Ambani summoned

Ambani was allegedly summoned in connection with its money laundering probe against Yes Bank promoter Rana Kapoor. In response to the summons, Anil Ambani has filed an adjournment application seeking more time on health grounds to appear before the ED and may be issued a new date. ED sources believe that the Reliance group is one of the many corporate entities that have amounted to the bad loans taken from the stressed lender - Yes Bank.

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Corporates' crisis in 2019

Among the big names mentioned in the summons -  Subhash Chandra had lost controlling shares of Zee Entertainment Enterprises and has been selling stakes in Zee to help repay the debt of Essel Group. Similarly, Anil Ambani had to file for insolvency of his telecom carrier- Reliance. He also escaped jail time after his brother and Asia’s richest man, Mukesh Ambani bailed him out by repaying his $77 million debt to the Indian unit of Ericsson AB for past maintenance services, as ordered by the Supreme Court. Goyal too stepped down as Jet Airways chairman after his airlines was pushed into deep losses and filed for bankruptcy. While Jet Airways is currently undergoing insolvency, the government said it was investigating an alleged $2.6 billion fraud involving Jet Airways.

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ED probes Kapoor

Currently, Enforcement Directorate is investigating into Yes Bank founder Rana Kapoor - who was under judicial custody. The ED has accused Kapoor, his family members and others of laundering "proceeds of crime" worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA. The ED is also probing into the loans offered by Yes Bank to DHFL which has been booked for siphoning funds close to Rs 13000 crores allegedly through 80 shell companies. The CBI too has booked a case against Kapoor for the same offence.

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