Jet Airways, Naresh Goyal under SFIO lens; stock hits lower circuit

The grounded Jet Airways owes over Rs 8,000 crore to its lenders. Besides, the airline is estimated to have a total liability of about Rs 25,000 crore which includes dues of operational creditors.

Shares of Jet Airways were locked in the lower circuit band of 5 per cent at Rs 22.2 on the BSE on Monday after reports suggested founder Naresh Goyal was under Serious Fraud Investigation Office's (SFIO) lens for siphoning off funds. In comparison, the S&P BSE Sensex trading 0.16 per cent lower.

According to a Business Standard report, The probe agency has found that the company’s vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.

 “The money has been shown as outgoing payments