Offer Rs 18k CR bank guarantee to travel abroad: HC to Naresh Goyal

NEW DELHI: The Delhi High Court said on Tuesday that Naresh Goyal , promoter of those now on land. Jet Airways , you can not be allowed to travel abroad without submitting a Bank guarantee for Rs 19,000 crore.

Judge Suresh Kumar Kait rejected Goyal's request that he had to travel to Dubai to arrange funds for the reactivation of the airline, saying that the money he was looking for could be transferred through RTGS from abroad. “If you are ready to give Rs 18,000 crore Bank guarantee , you can go (abroad).”

Goyal, who along with his wife Anita was fired from a flight to Dubai on May 25, had challenged the surveillance circular issued to prevent her from traveling abroad. Goyal's attorney and lead counsel, Maninder Singh, argued that the LOC was not justified, since Jet's promoter was not a defendant in any case nor had he been named in any FIR or complaint filed by the Direction of Execution .

Goyal also emphasized that he had been a non-resident Indian citizen since 1991, and this required him to stay abroad at least 183 days a year to obtain income tax benefits and to maintain his residence visa in the United Kingdom and the UAE.

Attorney General Maninder Acharya said that the LOC was issued against Goyal at the instance of the Serious Fraud Investigation Office (SFIO) under the ministry of corporate affairs in connection with an investigation of a fraud of Rs 18,000. supposedly related to the closed airline.

In his petition filed by attorney Sakesh Kumar, Goyal challenged an office memo issued by the Ministry of Internal Affairs to restrict a person from traveling abroad in certain circumstances. His lawyer, Singh, said that such office memoranda could not be the basis for preventing a person from traveling abroad, and that only a LOC could be issued in accordance with the law established by the legislature, since it refers to the right of Each person to travel abroad.

The principal defender described his client as a law-abiding citizen. Although Judge Kait agreed to issue a notice to the Center in light of the points raised by the lead counsel, he refused to grant provisional relief to Goyal.

The cash-strapped Jet Airways, which stopped all operations on April 17 due to financial distress, is being probed by multiple agencies, including the corporate affairs ministry and I-T department for alleged irregularities. The LOC was issued after an inspection by the ministry found large-scale irregularities at the airline.