The Enforcement Directorate (ED) has filed a chargesheet in a Mumbai court, shedding light on the alleged fraud of Rs 538 crore at Canara Bank and the factors contributing to the downfall of Jet Airways. The chargesheet highlights Naresh Goyal`s "incessant siphoning off of funds for personal pecuniary gains" as a key reason behind the airline`s demise.

According to the ED, Jet Airways could have potentially survived had Naresh Goyal allowed professionals to make strategic decisions and refrained from draining funds from the struggling airline for personal gain. The chargesheet reveals that Goyal channelled funds from the loss-making Jet Airways into entities owned by his family members in India and abroad.