Jet Airways Founder Naresh Goyal's Property Searched In Forex Case

Naresh Goyal's role in the deal is believed to be the main focus of that ED investigation.

The properties of Jet Airways founder Naresh Goyal and his associates' were searched by the Enforcement Directorate (ED) in a case linked to alleged foreign exchange law violation.

A preliminary investigation launched in early 2019 alleged provisions of the Foreign Exchange Management Act (FEMA) were violated after Abu Dhabi's Etihad Airways invested $150 million for a stake in Jet, a loyalty and rewards management company formed in 2012 as a subsidiary.

Mr Goyal's role in the deal is believed to be the main focus of that ED investigation.