Jet Airways Founder Naresh Goyal Moves The Delhi High Court To Withdraw His Plea Against Bar On Visit Abroad

Founder of the grounded Jet Airways, Naresh Goyal, has approached the Delhi High Court seeking to withdraw his petition seeking permission to travel abroad.

Goyal has stated in a fresh application that he is in the process of extending all support to the Serious Fraud Investigation Office (SFIO) probe into an alleged fraud case of Rs 18,000 crore and hence is not pressing for the petition at this stage.

Incidentally, his petition is likely to come up for hearing in the court shortly.

It may be recalled that a few days earlier, Goyal had sought permission to travel outside India as well as challenged a Look Out Circular (LOC) issued against him on the ground that as on May 25, when he was de-boarded from a flight to Dubai, no ECIR or FIR was registered against him.

The court had also observed that if Goyal wanted to go abroad, he should first deposit Rs 18,000 crore as guarantee which is what his company owes to its lenders.

He had also sought quashing of the LOC as well as several office memorandums which lay down the guidelines for issuing the travel ban.

According to the Ministry of Corporate Affairs, the LOC was issued after an inspection by the ministry found large-scale irregularities in Jet Airways, which shut its operations in April due to acute cash crunch. The ministry has ordered a probe by SFIO into the affairs of Jet Airways.

Both Naresh Goyal and his wife Anita Goyal had resigned from the board of Jet Airways following a debt restructuring plan. He had also resigned as the airline's chairman.

Meanwhile, Jet Airways is undergoing insolvency proceedings.