India’s enforcement directorate (ED) said Wednesday that it has seized properties worth 69.68 million U.S. dollars belonging to Jet Airways founder Naresh Goyal, his family members and companies in an alleged bank loan fraud case.
The federal agency responsible for enforcing economic laws and fighting economic crime in India has attached properties including 17 residential flats, bungalows and commercial premises in the name of Goyal, his family members and companies situated in London, Dubai and various states of India.
On Tuesday ED filed a charge against Goyal and five others in the fraud case filed by Canara Bank. Goyal was arrested in September.
Jet Airways shut operations in 2019 due to massive financial distress, following which thousands of the employees including pilots, engineers, flight attendants and ground staff were left jobless.
Last year it tried to revamp itself under new owners. However, the resolution plan to lift the airline out of bankruptcy could not materialise due to disagreement with creditors.