Naresh Goyal sets terms for Rs 700-cr infusion into debt-laden Jet Airways

Goyal wants Sebi exemption from takeover code if stake falls below 25%

A day after Jet Airways’ foreign partner Etihad Airways told lenders that promoter Naresh Goyal must not keep more than a 22 per cent stake and that he should have no role in running the airline, the man at the centre of the controversy has hit back. 

Jet founder Goyal, in a letter dated January 16, has told State Bank of India (SBI) chairman Rajnish Kumar that he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake in the airline. Goyal currently controls