The Bombay High Court has set aside Bank of India’s classification of Jet Airways founder Naresh Goyal’s account as “fraud,” citing a violation of natural justice. The Court emphasized that Goyal was not given an opportunity to make a representation before the decision.
![[Money Laundering Case] Jet Airways Founder Naresh Goyal Receives Medical Bail from Bombay HC](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/11/IMG-5.png?resize=447%2C367&ssl=1)
Today, On 11th November, the Bombay High Court granted permanent medical bail to Naresh Goyal, founder of Jet Airways, in a money laundering case. Earlier, he received interim bail for cancer treatment. The court acknowledged Goyal’s critical health condition, prioritizing his right to medical care while legal proceedings against him continue.
On November 7, the Supreme Court will rule on the five-year Jet Airways ownership dispute between Jalan Kalrock Consortium and creditors led by SBI. JKC claims ownership while creditors request liquidation. Chief Justice DY Chandrachud will deliver the decision before his retirement on November 10, indicating potential impacts on India’s aviation sector.
Today, On 16th October, the Supreme Court reserved its judgment on SBI’s appeal against the NCLAT’s approval for Jet Airways’ ownership transfer to the Jalan Kalrock Consortium. Jet Airways, in insolvency since 2019, plans to resume operations in 2024, following disputes over payment obligations and resolution delays.
![[Jet Airways] "Creditors Delayed Resolution Process By Raising Pleas At Every Stage": Winning Bidder Tells SC](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/10/bsfbsf.jpg?resize=447%2C367&ssl=1)
Jalan Kalrock Consortium (JKC), which was handed over the grounded air carrier Jet Airways, on Tuesday (Oct 15) informed the Supreme Court that the creditors had delayed the resolution process by raising pleas at every stage of compliance. The National Company Law Appellate Tribunal (NCLAT) on March 12 had upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to the consortium.
Today, On 3rd July, The ED informed the High Court that Naresh Goyal’s interim bail may be extended for three weeks to allow for a medical examination at Tata Hospital. Goyal’s attorney cited his deteriorating health and reluctance to go to Tata Cancer Hospital. The court scheduled the next hearing for Thursday. Goyal faces money laundering allegations. His wife, Anita Goyal, passed away in May.
The Bombay High Court today assured Jet Airways founder Naresh Goyal that his plea for an extension of interim bail would be heard within the next 10 days. Goyal’s lawyers expressed frustration about the case being “shuttlecocked between courts” due to changes in judge assignments since May. The court agreed to hear the plea and set a hearing date soon.
Yesterday, On 9th May, The Jet Airways lenders are dissatisfied with the resolution plan, citing concerns about its effectiveness. The National Company Law Appellate Tribunal’s decision to transfer ownership to the successful bidder, Jalan Kalrock Consortium (JKC), within 90 days has incurred objections. JKC’s ability to fulfill financial obligations and revive the airline is under scrutiny amidst legal disputes.
Today, On 6th May, Naresh Goyal, founder of Jet Airways, granted a two-month interim bail by the Bombay High Court as he undergoes medical treatment. His bail sought on medical grounds while facing allegations of money laundering. The case involves financial irregularities during his tenure at Jet Airways. Goyal’s legal battle continues as the investigation progresses.
![[Money Laundering Case] Naresh Goyal's Interim Bail Extended by 2 Months](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/04/image-20-3.png?resize=447%2C367&ssl=1)
Today, on April 30th, Naresh Goyal, founder of Jet Airways, seeks bail from Bombay High Court based on health grounds amid money laundering and fraud allegations. Goyal’s advocates argue his critical medical condition and the need to care for his ailing wife. The petition emphasizes the necessity of specialized medical care beyond what can be provided in a prison setting.