Naresh Goyal, the founder of Jet Airways, was on Friday questioned by the Enforcement Directorate for over eight hours in connection with alleged foreign exchange violations by his firms.
The move comes close on the heels of the ED conducting searches at several premises across the country, including Mr. Goyal’s residence in Mumbai and properties belonging to Jet Airways.
Officials said that Mr. Goyal reached the ED office at Ballard pier around 11.30 a.m. on Friday, in response to summons issued earlier this week.
“Our investigation right now pertains to certain transactions carried out by 19 firms owned by Mr. Goyal, five of which are based overseas. We suspect that these firms were involved in a number of suspicious transactions under the guise of sale and distribution, and that the projections of costs incurred in these transactions were higher than what they were actually worth,” an ED officer said.
Mr. Goyal, who was questioned under provisions of the Foreign Exchange Management Act (FEMA), left the ED office around 7.30 p.m. Officials refused to comment on whether he would be called for questioning again.
