Money Laundering Case: Bombay HC Grants Interim Bail to Jet Airways Founder

The Supreme Court on Monday granted interim bail for a duration of two months on medical grounds to Naresh Goyal, the founder of Jet Airways, who has been apprehended by the Enforcement Directorate (ED) in a money laundering case.

A bench of Justice N J Jamadar, specified that Goyal must furnish a surety of Rs 1 lakh and refrain from departing Mumbai without prior authorization from the trial court.

“The applicant (Goyal) shall be released on interim bail for a period of two months. He shall abide by all conditions imposed,” the bench stated. Additionally, the high court directed Goyal to surrender his passport.

Reason

Goyal (75) had sought interim bail on medical and humanitarian grounds, citing both his and his wife Anita Goyal’s battles with cancer.

In February, a special court denied bail to Goyal but allowed him to be admitted to a private hospital of his choice for medical treatment. Goyal subsequently appealed to the High Court, seeking bail on merit and interim bail on medical grounds.

Goyal’s counsel, Harish Salve, implored the court to consider the case on humanitarian grounds. However, ED’s counsel, Hiten Venegaonkar, opposed bail, expressing willingness to extend Goyal’s hospitalization. Venegaonkar proposed extending Goyal’s hospitalization for four weeks and then reassessing his condition based on a fresh medical report. Salve countered, highlighting Goyal’s deteriorating physical and mental health.

Arrest

Goyal was arrested by the Enforcement Directorate (ED) in September 2023 on charges of money laundering and misappropriation of loans amounting to Rs 538.62 crore given to Jet Airways by Canara Bank. His wife was also arrested in November 2023 following the submission of the ED’s chargesheet.

The special court granted her bail the same day, considering her age and medical condition.

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