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ED raids Jet Airways founder Naresh Goyal's residence over alleged money laundering

Meanwhile, Delhi High Court today allowed Goyal's plea to be allowed to travel abroad.

ED raids Jet Airways founder Naresh Goyal's residence over alleged money laundering

New Delhi: The Enforcement Directorate (ED) on Friday conducted raids at residence of Jet Airways founder Naresh Goyal for alleged money laundering and fund diversions.

The probe agency is also conducting searches in over a dozen of locations in Delhi and Mumbai.

Meanwhile, Delhi High Court today allowed Goyal's plea to be allowed to travel abroad.  Goyal informed the court that he is fully cooperating with SFIO in the alleged fraud case probe.

During the course of hearing, counsel for centre senior told the court that he is not cooperating in the investigation, but Justice Naveen Chawla, after noting the submission of both sides allowed Goyal's withdrawal application.

On May 25, Goyal and his wife Anita Goyal were stopped from leaving the country by immigration authorities at Mumbai airport.

Goyal, along with his wife Anita, quit as chairman of the carrier in March this year under a debt resolution plan that saw lenders taking control of the airline.

Jet has has more than Rs 8,000 crore debt. The company on April 17 announced temporary suspension of all flight services as it failed to secure interim funding from lenders to maintain even bare minimum operations.

Currently, Jet is under the insolvency process, under which a committee of creditors has invited expressions of interest (EoI) from potential bidders.