Jet Airways founder Naresh Goyal sent to judicial custody for 14 days

A special PMLA court in Mumbai on Thursday (September 14) sent Naresh Goyal, founder of embattled Jet Airways, to judicial custody for 14 days. The court gave the order after Goyal's Enforcement Directorate (ED) custory ended today. The NRI businessman will be in judicial custody till September 28. 

Goyal had requested the court not send him to the Taloja Central Jail, and sent him to the Arthur Road Jail as it is closer to his home in Mumbai. 

In his application, Goyal also said that his wife was suffering from cancer, and he wanted the court to send him to the nearest jail to his home.

The Special PMLA Court on Thursday approved his application. 

Considering Goyal's deteriorating health, the judge has also ordered the jail to provide some necessary facilities to the Jet Airways founder.

The judge said that home food, medicine, his own clothes, a medical bed, and a pillow should be provided to Goyal in jail.

The ED arrested the Jet Airways founder last week in a Rs 538 crore bank fraud case. The ED alleged that he syphoned off funds from India to overseas by creating various trusts and using them to buy properties.

Jet Airways Share Price

The news of Goyal being sent to judicial custody seems to give a respite to the investors of Jet Airways as the company's shares hit the upper limit of 4.99 percent to soar to Rs 53.66 each on Thursday. It was in stark contrast from its share's performance in the last five trading session when it slid 7.45 per cent.