Jet founder Goyal controls 19 firms, 5 abroad: ED

New Delhi: The Enforcement Directorate, which carried out searches at the residence of former chairman of Jet Airways Naresh Goyal, has got details of 19 companies held by him of which five are located abroad and how money was siphoned off to other countries through dubious transactions.

The ED has carried out searches at over 12 locations in Delhi and Mumbai including the office and residential premises of Jet officials. A senior ED official said the raids were also carried out at the residence of Goyal and his longtime associate Hasmukh Gardi.

The official said during the searches, several incriminating documents related to the payments made to foreign companies and digital evidence have been seized. The official said the agency has taken up the investigation into alleged violation of the Foreign Exchange Management Act (FEMA) against Jet Airways and Goyal based on complaints from various sources.

He also added that the business empire of Goyal, who stepped down from the post of chairman of the airline in March this year includes 19 privately-held companies of which 14 are registered in India and five are registered abroad.

The official said Goyal "indirectly controls" various entities "abroad" some of which are in tax havens.