Additional Solicitor General Maninder Acharya, appearing for the ministry concern, apprised the court that an investigation by the Serious Fraud Investigation Office (SFIO) pertains to a fraud of Rs 18,000 crore.
The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by SBI on behalf of 26 lenders on June 20.
What is a Look-Out Circular, and when can it be issued? Does an LOC lead to an arrest in all cases? What is the difference between an LOC and Interpol notices like the Red Corner Notice? All your questions answered.
A Jet employee, who did not want to be named, said Kiran Pawaskar, president of the All India Jet Airways Officers and Staff Association, had recently met the Mumbai Police Commissioner and asked the police to keep a close watch on Naresh Goyal’s movements.