Yes Bank Case: Jet Airways Founder Naresh Goyal Appears Before ED
Naresh Goyal, founder and former chairman of Jet Airways (India) Ltd. (Photographer: Jason Alden/Bloomberg)

Yes Bank Case: Jet Airways Founder Naresh Goyal Appears Before ED

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Naresh Goyal, founder of Jet Airways (India) Ltd., appeared before the Enforcement Directorate in Mumbai today, in connection with a money-laundering probe against Yes Bank Ltd.’s former promoter Rana Kapoor and his family members.

According to official sources, Goyal's statement will be recorded by the investigating officer of the case under the Prevention of Money Laundering Act, 2010, at ED’s Ballard Estate office.

Yes Bank has Rs 550 crore loan exposure to Jet Airways.

The ED had first called on Goyal on March 18, but he skipped the summon citing ill-health of a relative. He was then asked to depose on Saturday, sources said.

The central investigation agency has initiated action against Kapoor and his family members and raided his premises soon after the Reserve Bank of India imposed a moratorium on the Yes Bank earlier this month. Normal banking operations for Yes Bank customers were restarted on Wednesday.

Kapoor, 62, was arrested by the ED in Mumbai on March 8 and is at present in judicial custody. The ED has questioned Reliance Group Chairman Anil Ambani and Peter Kerkar of Cox & Kings (India) Ltd. in relation to the Yes Bank case.

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