Jet Airways founder Naresh Goyal was arrested by the Enforcement Directorate on Friday, 1 September, for allegedly defrauding a bank of Rs 538 crores.
Goyal, 74, was arrested under provisions of the Prevention of Money Laundering Act (PMLA) after being questioned by the ED in its Mumbai office.
The businessman will be produced before a Bombay PMLA court on Saturday, 2 September.
The case against Goyal is based on an FIR filed by the Central Bureau of Investigation (CBI) in May this year against Jet Airways, Goyal, his wife, and a few former company executives in connection with allegedly defrauding Canara Bank, NDTV reported.
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