The Enforcement Directorate on Friday searched several locations in Delhi and Mumbai, including premises linked to Jet Airways founder Naresh Goyal, under the Foreign Exchange Management Act (FEMA).
Offences under the FEMA are civil in nature. About a dozen places were searched to gather additional information on the financial transactions which are under scrutiny, said an official.
The ED is looking into Jet Airways’ 49.9% stake in one Jet Privilege Private Limited, which was established in 2012 to manage a loyalty and rewards scheme. Etihad had bought 50.1% stake in it in 2014. The related investigations are being examined by the ED.
In February, Mr. Goyal agreed to step down as chairman of the beleaguered airline, which is currently undergoing a resolution process under the Insolvency and Bankruptcy Code.
The Serious Fraud Investigation Office, under the Ministry of Corporate Affairs, is also probing the financial dealings of Jet Airways, involving ₹18,000 crore, and has questioned its senior functionaries.
On May 25, Mr. Goyal and his wife were offloaded from a flight to Dubai based on a lookout circular issued through the Ministry.
