Jet Airways (India) Ltd. Founder Naresh Goyal has challenged the travel ban imposed on him and the plea is to be heard in the Delhi High Court on Friday, which officials said will be opposed vehemently by the government.
There is a ‘look out circular' issued against Goyal after an inspection by the Corporate Affairs Ministry found large-scale irregularities at Jet Airways, which shuttered operations in April due to an acute cash crunch.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
On May 25, Goyal and his wife Anita Goyal were stopped from leaving the country by immigration authorities at Mumbai airport minutes before their aircraft was about to take off for London via Dubai.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The officials said the ministry would vehemently oppose Goyal's plea seeking permission to travel abroad, especially considering the public interest involved.
Thousands of the airline's employees have not been paid their salaries and the banks have also been left high and dry. Against this backdrop, the ministry would oppose Goyal's plea, the officials added.
Goyal's plea is to be heard on Friday by Justice Vibhu Bakhru.
A ‘look out circular' is issued against a person directing the immigration authorities to ensure that he or she does not leave India through an airport or a seaport.
Naresh and Anita Goyal had resigned from the board of Jet Airways—which the former founded 26 years ago—in March following a debt restructuring plan. He had also resigned as the airline's chairman.
Jet Airways is currently undergoing insolvency proceedings.
Meanwhile, the ministry has also ordered a probe by the Serious Fraud Investigation Office into the affairs of Jet Airways.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
