Delhi, 06 Sep 2019: Jet Airways founder Naresh Goyal is being questioned by the ED here on Friday in a case of alleged contravention of the foreign exchange law, officials said.
This is the first time that the central agency is grilling him after it conducted searches against him last year. Mr. Goyal’s statement has been recorded under the Foreign Exchange Management Act (FEMA) at the agency’s zonal office in Mumbai, they said.
A dozen premises, including Mr. Goyal’s Mumbai residence, his group companies, their directors and offices of Jet Airways, were searched in August. Last month, the ED had alleged that Goyal "structured" a number of tax evasion schemes and siphoned off huge funds in foreign jurisdictions. "The search resulted in the seizure of various incriminating documents and digital evidences. Further investigation and analysis of the seized documents is going on," the agency had said in a statement issued on August 24.
According to ED sources, the businessman's empire had 19 privately-held companies, five of which were registered abroad. The agency is probing charges that these firms allegedly carried out "doubtful" transactions under the guise of selling, distribution and operating expenses.