Today, Session Court sent Jet Airways founder Naresh Goyal to 14-day judicial custody as part of a money laundering case associated with an alleged fraud of Rs 538 crore at Canara Bank.

On September 1, the Enforcement Directorate (ED) arrested Goyal under the Prevention of Money Laundering Act (PMLA) after an extensive interrogation conducted at the central agency's premises in this location.

The 74-year-old businessman was produced before the court at the end of his ED remand on Thursday. The money laundering case filed after an FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Naresh Goyal, his wife Anita, and certain former company executives of the now-defunct private airline. This case is linked to an alleged fraud of Rs 538 crore at Canara Bank.

The FIR was filed based on the bank's complaint, which contended that it approved credit limits and loans amounting to Rs 848.86 crore for Jet Airways (India) Ltd, with an outstanding balance of Rs 538.62 crore.

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