Jet founder Naresh Goyal questioned by ED in Mumbai
Mumbai, Sep 6: Jet Airways founder Naresh Goyal was on Friday questioned here by the Enforcement Directorate 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 month.
Goyal's statement has been recorded under the Foreign Exchange Management Act (FEMA) at the agency's zonal office here, they said.
A dozen premises, including Goyal's Mumbai residence in Mumbai, his group companies, their directors and offices of Jet Airways, were searched by the Enforcement Directorate (ED) on August 23.
According to agency 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.
The ED suspects that expenses at these companies were allegedly booked at fake and high costs and as a result, they "projected" huge losses.
Alleged shady aircraft lease transactions with non-existent offshore entities are also under the ED scanner and it is suspected that Jet Airways made payments for lease rental to "ghost firms", which purportedly routed the ill-gotten money in Goyal's companies.
Officials said while the case, at present, is being investigated under the civil proceedings of the FEMA law, additional evidences may lead to the registration of a case against the businessman and others under the stringent Prevention of Money Laundering Act (PMLA).
Goyal, along with his wife, were barred from flying out to a foreign location from the Mumbai airport in May as part of the vigil mounted against him by probe agencies.
A particular company under the ED scanner is the Isle of Man-based Tail Winds Corporation and it is suspected that it controlled all activities of Jet Airways.
The company (Tail Winds) was formed by Goyal in 1992.
The ED, as part of the searches few weeks ago, also went to the premises of Hasmukh Deepchand Gardi, who was a partner and a big investor in the Tail Winds company.
Sources said Gardi, who is based in Dubai, also had a mention in the global offshore holdings list, known as the "Panama Papers", and the agency suspected that the money invested in Tail Winds was sourced through illegal means.
It is understood that the ED is also looking at the airline's stake in Jet Privilege Pvt Ltd (JPPL), set up in 2012.
Jet Airways has a 49.9-per cent stake in JPPL, which is part of the Etihad Group. A few executives of the now closed down airline have been questioned by the ED in the past in relation to these charges.
A full-service carrier, Jet Airways shut its operations on April 17 after running out of cash.
A Ministry of Corporate Affairs (MCA) inspection report had found large-scale irregularities, including diversion of funds, at the airline, sources had said in July.
In March, Goyal stepped down as the chairman of Jet Airways.
Currently, the airline is going through the resolution process under the Insolvency and Bankruptcy Code.
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Bengaluru man arrested for sharing misleading ‘zombie drug’ video
Bengaluru (PTI): A day after a video of a man seen in a disoriented state went viral on social media with claims that he was under the influence of a so-called “zombie drug”, police on Friday arrested a 29-year-old employee of a private firm here for uploading the “misleading” video.
Hemanth, a resident of Vidyaranyapura, was issued a notice to join the inquiry, police said.
Learning that the police were looking for him, he posted an apology on social media. He was later taken into custody, a senior police officer said.
A case has been registered against him under Sections 353(2), relating to statements conducing to public mischief, including spreading false information or rumours that could incite public disorder, and Section 352, dealing with intentional insult with intent to provoke breach of peace, among others, under the Bharatiya Nyaya Sanhita, police added.
After Hemanth uploaded the video, it quickly went viral on Thursday.
Later, police clarified that the man shown in a disoriented state in the video had not consumed any narcotic or psychotropic substance.
He was subjected to a medical examination, and the report confirmed that there was no trace of narcotic substances, Bengaluru police said.
The police also urged the public not to spread unverified or misleading information on social media platforms, as such content can create unnecessary panic and harm individuals’ reputations.
The footage, which circulated widely on social media, showed the man standing motionless. People claimed he might be under the influence of a synthetic “zombie drug” and raised concerns about its availability in the city.
An inquiry revealed that the individual seen in the video had come to Bengaluru in search of a livelihood and had been residing there for the past three months, police said, adding that further investigation is ongoing.
The police warned that strict action will be taken against persons found spreading false information or rumours.
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