Deposit ₹18,000 crore if you want to fly abroad: Delhi HC tells Jet Airways founder Naresh Goyal

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New Delhi: The Delhi High Court on Tuesday refused to allow Jet Airways founder Naresh Goyal to go abroad and issued a notice to the Centre on his plea challenging a look out circular (LOC) issued against him.

While hearing the matter, Justice Suresh Kait told Goyal that he must deposit Rs 18,000 crore with the court if he wants to travel abroad.

The court was hearing Goyal’s plea challenging the lookout circular on the grounds that no case was filed against him when he was deboarded from a Dubai-bound flight on May 25.

The lookout circular was issued by the Serious Fraud Investigation Office (SFIO), which comes under the Ministry of Corporate Affairs. The SFIO has summoned Goyal to appear before it on July 10.

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The ministry had issued the circular against Goyal after an inspection had found large-scale irregularities at Jet Airways, and also ordered an investigation into the debt-ridden airline and several sister firms.

On March 25, Goyal, the then airline’s chairperson, and his wife had resigned from Jet Airways. Anita Goyal was also on the Jet Airways board when she resigned.

The next month in April, the airline suspended operations following massive debt.

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