Bombay HC seeks ED's response to Naresh Goyal's arrest challenge

21 Sep 2023 CW Team

In his plea, Goyal asserted that his arrest was conducted in violation of the provisions of the Prevention of Money Laundering Act (PMLA). He also contested the orders of a special court, which initially remanded him to ED custody and later sent him to judicial remand in jail.

During the hearing, Advocate Hiten Venegaonkar, representing the ED, requested additional time to file their response affidavit. Senior counsel Amit Desai, representing the 74-year-old businessman, appealed to the court for an expedited hearing due to his client's advanced age. The division bench of Justices Revati Mohite Dere and Gauri Godse acknowledged the need to allow the opposing party time to reply and noted that Goyal had the option to file for bail. Justice Dere further mentioned that the ED might challenge the maintainability of Goyal's plea in the High Court.

The bench scheduled the next hearing for October 6, by which time the ED must file its affidavit.

Currently, Goyal is in judicial custody at Arthur Road Jail in Mumbai, following his arrest in the money laundering case related to an alleged fraud of Rs 5.38 billion at Canara Bank. The septuagenarian businessman, formerly at the helm of India's leading private airline, was apprehended by the ED on September 1 and initially placed in their custody until September 14. Subsequently, he was remanded to judicial custody for two weeks.

In his plea, Goyal argued that his arrest was arbitrary, unjustified, and conducted without adhering to the proper procedural guidelines outlined by the ED. He sought immediate release.

The money laundering case originates from an FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita, and some former company executives of the now-defunct airline. The case is related to an alleged Rs 5.38 billion fraud at Canara Bank, a government-owned lender, which claimed that it had granted credit limits and loans amounting to Rs 848.86 crore to Jet Airways (India) Ltd, with Rs 5.38 billion remaining outstanding.

The Bombay High Court issued a directive to the Enforcement Directorate (ED) to submit an affidavit in response to a petition filed by Naresh Goyal, the founder of Jet Airways, challenging his unlawful arrest in connection with a money laundering case linked to a bank loan default.In his plea, Goyal asserted that his arrest was conducted in violation of the provisions of the Prevention of Money Laundering Act (PMLA). He also contested the orders of a special court, which initially remanded him to ED custody and later sent him to judicial remand in jail.During the hearing, Advocate Hiten Venegaonkar, representing the ED, requested additional time to file their response affidavit. Senior counsel Amit Desai, representing the 74-year-old businessman, appealed to the court for an expedited hearing due to his client's advanced age. The division bench of Justices Revati Mohite Dere and Gauri Godse acknowledged the need to allow the opposing party time to reply and noted that Goyal had the option to file for bail. Justice Dere further mentioned that the ED might challenge the maintainability of Goyal's plea in the High Court.The bench scheduled the next hearing for October 6, by which time the ED must file its affidavit.Currently, Goyal is in judicial custody at Arthur Road Jail in Mumbai, following his arrest in the money laundering case related to an alleged fraud of Rs 5.38 billion at Canara Bank. The septuagenarian businessman, formerly at the helm of India's leading private airline, was apprehended by the ED on September 1 and initially placed in their custody until September 14. Subsequently, he was remanded to judicial custody for two weeks.In his plea, Goyal argued that his arrest was arbitrary, unjustified, and conducted without adhering to the proper procedural guidelines outlined by the ED. He sought immediate release.The money laundering case originates from an FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita, and some former company executives of the now-defunct airline. The case is related to an alleged Rs 5.38 billion fraud at Canara Bank, a government-owned lender, which claimed that it had granted credit limits and loans amounting to Rs 848.86 crore to Jet Airways (India) Ltd, with Rs 5.38 billion remaining outstanding.

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Infrastructure Energy

06 Oct 2025

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Infrastructure Energy

06 Oct 2025

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..