The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with a case of alleged contravention of the foreign exchange law, officials said.
They said the searches are being carried out under the provisions of the Foreign Exchange Management Act (FEMA) and are aimed at gathering additional evidence.
Premises in Mumbai and Delhi are being searched, they said.
A full-service carrier, Jet Airways shuttered operations on April 17 after running out of cash.
A Ministry of Corporate Affairs (MCA) inspection report had found large-scale irregularities, including diversion of funds, at the airline, sources had said in July.
In March, Goyal stepped down as chairman of the airline.
Currently, Jet Airways is undergoing resolution process under the Insolvency and Bankruptcy Code.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app