close

News WrapGet Handpicked Stories from our editors directly to your mailbox

Delhi HC refuses to quash Look out Circular against Jet promoter Naresh Goyal

Naresh Goyal had moved High Court seeking direction to quash the LOC issued against him. He also sought the quashing of certain office memoranda issued against him.

Delhi HC refuses to quash Look out Circular against Jet promoter Naresh Goyal

New Delhi: The Delhi High Court on Tuesday refused to stay the Look out Circular against former Jet Airways chairman Naresh Goyal and his wife Anita Goyal. The HC has issued notice to centre and asked respondents to file reply by next date of hearing 19 August.

Goyal had moved High Court seeking direction to quash the LOC issued against him. He also sought the quashing of certain office memoranda issued against him.

The circular was issued against Goyal by the Serious Fraud Investigation Office (SFIO) under the Corporate Affairs Ministry after it found several irregularities in the aviation company, which had halted operations in April this year due to acute cash crunch.

Justice Vibhu Bakhru had recused himself from hearing Goyal`s plea when the matter came up on July 5 hence the matter was listed before another bench on today (July 9).

On May 25, Goyal and his wife Anita Goyal were stopped from leaving the country by immigration authorities at Mumbai airport when before flying out on an Emirates flight.

Goyal had set up the company with his wife in 1993. In February this year, he had quit as the chairman of the carrier and along with his wife, he also stepped down from the board of the airline.

The crisis-hit airline has battled acute financial woes estimated to be more than Rs 8,000 crore. The crunch not only forced the airline to ground aircraft leading to the cancellation of several flights but had caused delayed salary payments to its pilots, engineers and other senior staff.