CBI raids Jet Airways office premises

CBI has carried out raids on a total of 7 locations of Jet Airways and airline founder Naresh Goyal on Friday. This incident of raid is related to banking fraud which is about 538 crore rupees. According to the information, the Central Bureau of Investigation team has also raided the Mumbai office of Jet Airways and the residence of Naresh Goyal. Banking fraud is being told related to Canara Bank.

Raids were conducted at several locations

According to the information so far, the CBI team has searched the houses of Naresh Goyal, his wife Anita and former director of the airline Gaurang Anand Shetty. After receiving a complaint from Canara Bank, the investigative agency swung into action and carried out the raid.

Fund diversion allegation

Based on the information of the bank, a case has also been registered regarding the fraud of Rs 538 crore. The bank alleges that these people have wrongly diverted the bank's money. Under the bankruptcy process, Jalan Kalrock Consortium has won the bid to buy the airline.

The preparations for the revival of the airline are going on in full swing.

Operations were ceased in April 2019

Jet Airways was once the leading airline of India. Its operation was stopped in April 2019. The airline was battling with the cash crisis due to which this decision was taken. A mountain of debt had arisen on the airline. The investing agency alleges that the airline's founder and several top executives transferred funds wrongly.

Must Read: Go First: Why Did the Airline Go Bankrupt? The Downfall of India’s Low-Cost Carriers

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