Jet Airways Founder Naresh Goyal Granted Bail By Bombay HC

Naresh Goyal, the founder of Jet Airways, arrested by the Enforcement Directorate (ED) in a money laundering case, has been temporarily granted bail for two months due to medical reasons by the Bombay High Court on Monday.

Presiding over a single bench, Justice N J Jamadar ruled that Goyal must furnish a surety of ₹1 lakh and is prohibited from leaving Mumbai without prior permission from the trial court.

“The applicant (Goyal) shall be released on interim bail for a period of two months. He shall abide by all conditions imposed,” stated the bench. Furthermore, the court directed Goyal to surrender his passport.

Goyal (75) had requested interim bail citing medical and humanitarian reasons, as both he and his wife, Anita Goyal, are fighting cancer. In February, a special court had refused bail to Goyal but permitted him to be admitted to a private hospital of his choosing for medical treatment.

Later, Goyal approached the High Court, seeking bail based on the merits of the case and requesting interim bail on medical grounds. Harish Salve, representing Goyal, urged the court to consider the case from a humanitarian perspective.

However, the ED’s counsel, Hiten Venegaonkar, opposed bail, stating that the agency had no objection if Goyal’s hospitalization was extended. Venegaonkar suggested that the court may extend Goyal’s hospital stay for four weeks and then reassess his condition with a fresh medical report.

Salve countered, emphasizing not only Goyal’s deteriorating physical health but also his declining mental health. Goyal was arrested by the ED in September 2023 on charges of money laundering and diverting loans totaling ₹538.62 crore provided to Jet Airways by Canara Bank.

His wife was arrested in November 2023 when the ED submitted its chargesheet. She was granted bail by the special court on the same day due to her age and medical condition.

Jet Airways, once India’s leading private airline, ceased operations in 2019 due to financial difficulties. Goyal, who founded the airline in 1993, had resigned as chairman of Jet Airways earlier but remained involved with the company until its operations ceased.