Archive · 10 Aug 2026
Naresh Goyal Files Discharge Plea In ₹5,716-Crore Loan Diversion Case
A long time ago, a man named Naresh Goyal started an airline called Jet Airways.
The airline borrowed a very large amount of money — more than five thousand crore rupees — from ten banks.
People who check on money crimes think that a lot of this borrowed money was not used for the airline, but was sent somewhere else.
Because of this, a special team called the Enforcement Directorate arrested Mr. Goyal in September 2023.
Now, Mr. Goyal has gone to court and asked the judge to close the case against him.
The judge was not happy about this, because Mr. Goyal waited three years after his arrest to make this request.
The court's job now is to decide whether the case should continue or be dismissed.
The people accusing Mr. Goyal have been asked to give their answer about the request in court.
Until the judge makes his decision, the case remains open and will be heard again in the future.
Jet Airways founder Naresh Goyal has filed a discharge plea in the Enforcement Directorate's money laundering case over the alleged diversion of Rs 5,716.34 crore in loans from a consortium of banks.
Goyal, 76, was arrested by the ED in September 2023 in connection with the money laundering probe.
The court reprimanded Goyal's lawyer for seeking an adjournment, noting the matter pertains to 2023 and that no steps to file a discharge application were taken for the past three years.
The ED case is based on a May 3 CBI FIR against Goyal, his wife Anita, former company executive Gaurang Ananda Shetty, and unknown public servants and private persons over alleged fraud at Canara Bank.
A forensic audit allegedly found Rs 1,152 crore diverted in the guise of consultancy and professional fees and Rs 2,547.83 crore diverted to sister concern Jet Lite Limited; about Rs 6,000 crore of the loan remains outstanding.
- Who
- Jet Airways founder Naresh Goyal (76), his wife Anita, former executive Gaurang Ananda Shetty, the Directorate of Enforcement, the Central Bureau of Investigation, and Canara Bank.
- What
- Goyal filed a discharge plea in the ED's money laundering case alleging the diversion of Rs 5,716.34 crore in loans obtained from a consortium of banks.
- When
- Hearing in early August 2026 (article datelined August 10, 2026); Goyal was arrested in September 2023.
- Where
- Mumbai.
- Why
- The ED alleges loan funds were diverted, with a forensic audit finding Rs 1,152 crore moved as consultancy/professional fees and Rs 2,547.83 crore diverted to sister concern Jet Lite Limited.
Defense
Prosecution (ED)
Discharge Plea Timing
Defense
Goyal's lawyer submitted the discharge application promptly at the next hearing after the court's remarks, seeking to end the case.
Prosecution (ED)
The court said the matter pertains to 2023 and that the accused took no steps for three years, adding that 'the accused cannot be entertained on each and every date for filing a discharge application.'
Use of Loan Funds
Defense
By seeking discharge, Goyal contests that the case against him should proceed.
Prosecution (ED)
The ED alleges Rs 1,152 crore was diverted as consultancy and professional fees and Rs 2,547.83 crore to sister concern Jet Lite Limited, with Rs 6,000 crore still outstanding.
- Accused
- Naresh Goyal, 76, Jet Airways founder
- Case amount
- Rs 5,716.34 crore allegedly diverted from bank loans
- Arrest
- September 2023 by the Directorate of Enforcement
- Case basis
- May 3 CBI FIR over alleged fraud at Canara Bank
- Loan details
- Consortium of 10 banks, taken 2011-12 to 2018-19; Rs 6,000 crore outstanding
- Alleged diversions
- Rs 1,152 crore in consultancy/professional fees; Rs 2,547.83 crore to Jet Lite Limited
- Court status
- Prosecution asked to file reply to the discharge plea