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Give Rs 18,000 crore guarantee to travel out of India, Delhi HC tells Naresh Goyal

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.

Written by Pritam Pal Singh | New Delhi | Updated: July 10, 2019 5:18:05 am
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The Delhi High Court on Tuesday refused to allow former chairman of Jet Airways Naresh Goyal to leave India and said if you are ready to give Rs 18,000 crore bank guarantee, you can travel.

“Why should they (government and its agencies) not stop you, when you are leaving after Jet trouble has surfaced,” the judge remarked. Justice Suresh Kait while referring to instances of businessmen fleeing the country after being involved in financial irregularities observed, “you have not established the purpose (to go abroad).”

It clarified that, even an order would be passed in the matter only after seeking the Central Government’s stand. The court listed matter for further hearing on August 23. The judge issued notice to Centre and sought their stand on Goyal’s plea challenging travel ban imposed on him on ground that he was not given any opportunity to clarify which denies him “natural justice”.

It did not even gave an interim relief on the ground that he had scheduled meetings with foreign investors, who have shown interest in infusing funds into the company. Goyal also sought quashing of the Look-Out-Circular, on basis of which he has been restrained from moving outside India.

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.

Subsequently, the LOC was issued against Goyal at the insistence of the SFIO under the Ministry of Corporate Affairs. Pursuant to the LOC, Goyal and his wife Anita were deplaned from a Dubai-bound flight on May 25.

Following which, Goyal (69), has moved the court challenging the various memorandums issued to him since December 2017, which lays down guidelines for issuing the travel ban, by the Ministry of Home Affairs and also the LOC.

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