Mumbai: Jet Airways founder Naresh Goyal has approached a special court in Mumbai seeking discharge from a money laundering case linked to an alleged ₹538.62-crore bank fraud. The 77-year-old businessman filed a discharge application before the special Prevention of Money Laundering Act (PMLA) court on Monday. The Enforcement Directorate (ED) had arrested him in the case in September 2023.
The special court agreed to hear Goyal’s application on the condition that he would not seek any adjournment during the hearing. The court directed the prosecution to file its response and adjourned the matter to August 17.
The development comes after the court had directed Goyal at the previous hearing to appear before it on August 10 for the process of framing charges in the money laundering case. Goyal had sought additional time on the ground that he intended to file a discharge application, but the court had declined to grant a further adjournment.
Discharge plea filed after three years
During the previous hearing, the special PMLA court had noted that the case had been pending since 2023, but the accused had not taken steps to file a discharge application during the intervening period. The court had cited this delay while refusing to grant additional time.
Goyal has now formally filed the discharge plea. The court will consider the application after receiving the prosecution’s response.
Under the criminal justice process, discharge is sought after a chargesheet has been filed but before charges are formally framed. An accused can seek discharge if the material placed before the court does not provide sufficient grounds to proceed with the alleged offence.
ED alleges diversion of bank loan funds
The ED arrested Goyal in September 2023. The agency has alleged that he laundered money by siphoning off ₹538.62 crore in loans extended by state-owned Canara Bank to Jet Airways.
The money laundering case stems from a First Information Report (FIR) registered by the Central Bureau of Investigation (CBI). The FIR names Jet Airways, Naresh Goyal, his wife Anita Goyal and some former executives of the airline in connection with the alleged bank fraud.
According to the investigating agencies, scrutiny of the bank loans and related financial transactions revealed alleged irregularities in the use and movement of the funds. The ED subsequently initiated a money laundering investigation based on the CBI case.
The allegations concern the alleged diversion and misuse of funds obtained by Jet Airways from Canara Bank. Goyal has been contesting the proceedings through the legal process.
Goyal currently out on medical bail
Following his arrest by the ED, Goyal remained subject to judicial proceedings and is currently out on medical bail. His latest application seeks to end the money laundering proceedings against him before the court formally frames charges.
The special court is expected to consider the prosecution’s response on August 17. The subsequent proceedings will determine whether Goyal’s discharge plea is accepted or whether the case proceeds towards framing of charges.
At this stage, charges against Goyal have not been formally framed by the court. His discharge application will be decided on the basis of the evidence placed before the court and arguments advanced by both sides.
The alleged ₹538.62-crore bank fraud and the related money laundering allegations remain the central issues in the proceedings initiated by the investigating agencies.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
