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Jet Airways Visionary Naresh Goyal's 14-Day Judicial Custody at Arthur Road Jail: A Surprising Turn of Events

In a recent development, the founder of Jet Airways, Naresh Goyal, found himself facing a significant legal situation as a Special PMLA (Prevention of Money Laundering Act) court decided to send him into judicial custody for a period of 14 days. Following this decision, Naresh Goyal is slated to be lodged in the Arthur Road jail, located in Mumbai, for the upcoming two weeks.

This decision came as the culmination of a series of legal proceedings. The 74-year-old Goyal was presented before the court at the end of his remand, and notably, the probe agency did not seek any further remand, which ultimately led to the court's ruling of judicial custody and placement in Arthur Road jail.

One noteworthy aspect of this development is Goyal's own preference for Arthur Road jail over Taloja Central Prison, situated on the outskirts of the city. This preference was made clear through several applications submitted by Goyal's lawyer, Ameet Naik. These applications encompassed various requests related to accommodations during his time in custody, including a plea for permission to be admitted to a private hospital.

The basis for these requests lay in Goyal's health concerns. It was stated in the plea that Goyal had previously experienced uneasiness and dizziness, leading to his hospitalization at the state-run Sir J J Hospital. During this medical examination, his heart rate was found to be low. Given his history of heart disease and a previous bypass surgery, the plea argued that he was at risk of cardiac arrest and required constant medical attention. However, the court responded by indicating that such matters would be considered if his remand were to be extended.

The legal woes for Naresh Goyal began with his arrest by the Enforcement Directorate (ED) on September 1, under the provisions of the Prevention of Money Laundering Act (PMLA). The accusations against him revolve around an alleged fraud of Rs 538 crore at Canara Bank.

Naresh Goyal holds a significant legacy in the aviation industry as the founder of Jet Airways, established in 1993. However, his tenure as Chairman of the airline concluded in 2019, a period marked by the grounding of the airline due to financial difficulties. His arrest followed closely on the heels of the Jalan Kalrock consortium's payment of Rs 100 crore ($120,000) out of the total Rs 350 crore it pledged to pay for taking over the airline, which had become non-operational.

The money laundering case against Naresh Goyal and others stemmed from an FIR (First Information Report) filed by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal himself, his wife Anita, and a few former company executives. This legal saga also included raids conducted by the ED in July at premises linked to Naresh Goyal and other individuals alleged to be involved in the case. As this complex legal situation unfolds, it underscores the intricate nature of financial and legal matters in the business world.

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