Jet Airways row: Delhi HC to hear Naresh Goyal's plea

05 July,2019 12:36 PM IST |   |  ANI

On May 25, Naresh Goyal and his wife Anita Goyal were denied permission to travel abroad

File pic


New Delhi: The Delhi High Court is scheduled to hear on Friday a petition filed by former Jet Airways chairman Naresh Goyal seeking quashing of the Look Out Circular (LOC) issued against him.

The circular was issued against Goyal by the Corporate Affairs Ministry after it found several irregularities in the airline company, which had halted operations in April, earlier this year, after running out of cash.

On May 25, Naresh Goyal and his wife Anita Goyal were denied permission to travel abroad.

The duo was flying out of India from Mumbai on an Emirates flight when they were restricted from leaving the country by immigration authorities.

On March 25, Goyal, the then Jet Airways Chairman, had stepped down, paving way for lenders to bail out the financially troubled airline he set up 25 years ago.

Earlier on Thursday, the Ministry of Corporate Affairs had ordered a probe into the debt-laden Jet Airways over alleged mismanagement, including siphoning of funds.

Jet has been suffering bruising competition from low-cost airlines, fluctuating crude prices and a weak rupee. The airline has over one billion dollars in debt and has to repay money to banks, lessors of planes and suppliers besides clearing pending salaries to its pilots.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!
jet airways delhi high court national news
Related Stories