Naresh Goyal Moves Court for Discharge in ₹538.62-Crore Money Laundering Case

Founder of the now-defunct Jet Airways, Naresh Goyal, has moved a special PMLA court in Mumbai seeking discharge from a money laundering case linked to an alleged ₹538.62-crore bank fraud involving state-run Canara Bank.

The special court agreed to hear Goyal’s discharge plea on Monday, subject to his undertaking that he would not seek any adjournment during the hearing. The court directed the Enforcement Directorate (ED) to file its response and adjourned the matter to August 17.

The development comes after the court had earlier directed the 77-year-old businessman to appear on August 10 for framing of charges in the case. Goyal had previously sought more time to file his discharge application, but the request was rejected.

During the earlier hearing, the court observed that the case dates back to 2023 and questioned why Goyal had not taken steps to file a discharge application during the intervening period.

Goyal was arrested by the ED in September 2023 in connection with the case. The agency has alleged that he siphoned off loans extended by Canara Bank to Jet Airways and laundered funds amounting to ₹538.62 crore. He is currently out on medical bail.

The money laundering case originated from a CBI FIR registered against Jet Airways, Goyal, his wife Anita Goyal and some former executives of the airline over the alleged bank fraud.

A discharge application is filed after a chargesheet has been submitted but before charges are formally framed. An accused can seek discharge if the material placed before the court is considered insufficient to establish the alleged offence.

The court’s next hearing on August 17 is expected to consider the ED’s response to Goyal’s plea.