You are here: Home » Companies » News
Business Standard

HC judge recuses from hearing Jet founder Naresh Goyal's plea against LOC

When the matter came up for hearing before Justice Vibhu Bakhru, he said that "this matter will have to go before another bench" and directed that it be listed before another judge on July 9

Topics
Jet Airways crisis | Naresh Goyal | Delhi High Court

Press Trust of India  |  New Delhi 

Naresh Goyal
Naresh Goyal | File photo

A judge recused himself on Friday from hearing Jet Airways founder Naresh Goyal's plea challenging a look out circular (LOC) issued against him barring him from travelling outside the country.

When the matter came up for hearing before Justice Vibhu Bakhru, he said that "this matter will have to go before another bench" and directed that it be listed before another judge on July 9.

The judge, however, did not give any reasons for recusing from the matter.

According to Goyal's plea, the LOC was issued against him on the request of the Serious Fraud Investigation Office (SFIO) which comes under the Ministry of Corporate Affairs (MCA).

He has sought quashing of the LOC as well as several office memorandums which lay down the guidelines for issuing the travel ban.

Goyal said he came to know of the LOC on May 25 when he and his wife, Anita, were offloaded from a flight to Dubai with an onward connection to London.

He has contended that no ECIR/FIR has been registered against him and he has not been named as an accused in any case warranting issuance of the LOC.

According to the MCA, the LOC was issued after an inspection by the ministry found large-scale irregularities at Jet Airways, which shuttered operations in April due to acute cash crunch.

Naresh and Anita Goyal had resigned from the board of Jet Airways, which the former founded 26 years ago, in March following a debt restructuring plan.

He had also resigned as the airline's chairman.

Jet Airways is undergoing insolvency proceedings.

Meanwhile, the ministry has also ordered a probe by SFIO into the affairs of Jet Airways.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, July 05 2019. 14:20 IST
RECOMMENDED FOR YOU
.