Court Denies Bail To Jet Airways Founder Naresh Goyal

A special court has declined bail to Naresh Goyal, the founder of Jet Airways, citing health reasons in a money-laundering case. The 74-year-old entrepreneur, who has been diagnosed with cancer, was noted to be receiving adequate care at the hospital where he is currently hospitalised, remarked the court.

Goyal has been receiving medical treatment at Sir H N Reliance Hospital, a private facility, for the past two months. Earlier in February, the court had refused interim bail but permitted him to undergo treatment at a hospital of his preference.

The bail plea of Goyal was rejected by Judge M G Deshpande, who oversees cases under the Prevention of Money Laundering Act (PMLA). The comprehensive order detailing the decision is yet to be released.

In September 2023, Goyal was arrested by the Enforcement Directorate (ED) on charges of diverting loans amounting to Rs 538.62 crore that were extended to his now defunct airline, Jet Airways, by Canara Bank and then laundering the proceeds.

In his bail petition, Goyal mentioned his hospitalisation due to fever and a cystoscopy procedure. The application highlighted his declining health, weakened immunity and numerous severe medical conditions, including mental health issues.

The ED objected to his plea, arguing that his medical reports did not indicate that Goyal's condition was life-threatening. They asserted that although his condition was chronic, it could be curable with proper treatment.

The Central probe agency alleged that the current bail application was an attempt to prolong the trial proceedings, as Goyal had already been permitted to receive treatment at a hospital of his choosing.