In a recent judicial ruling, the Bombay High Court, exercising its discretion, temporarily liberated Naresh Goyal, the progenitor of Jet Airways, for a span of two lunar cycles on the grounds of his health. This decision emanates from his detention by the Enforcement Directorate (ED) concerning an inquiry into financial misconduct. Presiding over the matter, Justice N J Jamadar, occupying a solitary position, stipulated that Mr. Goyal furnish a financial guarantee amounting to Rs 1 lakh and adhere to the stipulation of not departing from the city of Mumbai sans antecedent endorsement from the adjudicatory forum.
Per the pronouncement of the bench, “The supplicant, Mr. Goyal, shall experience temporary freedom for a duration of two months, subject to adherence to all prescribed terms and conditions.” Additionally, the High Court mandated the relinquishment of Mr. Goyal’s travel document. The rationale behind this judicial gesture stems from the affliction of cancer afflicting both Mr. Goyal, aged 75, and his spouse, Mrs. Anita Goyal.
An antecedent adjudication in February rebuffed Mr. Goyal’s entreaty for liberty, albeit permitting his admission to a privately-operated medical institution of his preference for the procurement of healthcare services. Subsequently, Mr. Goyal pursued appellate recourse before the High Court, seeking liberation both on legal merits and compassionate grounds. Counsel representing Mr. Goyal, Mr. Harish Salve, vociferously implored the tribunal to weigh the humanitarian aspect of the case.
Conversely, Mr. Hiten Venegaonkar, appearing on behalf of the ED, interposed opposition against the grant of bail, articulating the agency’s neutrality toward the extension of Mr. Goyal’s medical sojourn. Mr. Venegaonkar articulated the proposal for an extension of Mr. Goyal’s convalescence for a span of four weeks, post which a reappraisal of his health condition could be undertaken.
However, Mr. Salve, rebutting the opposition, accentuated the parlous state of Mr. Goyal’s psychological well-being, in addition to his physical infirmity. Mr. Goyal fell under the purview of the ED’s scrutiny in September 2023 on allegations pertaining to financial impropriety, involving the misappropriation and diversion of funds totaling Rs 538.62 crore, lent to Jet Airways by the Canara Bank.
Subsequently, in November 2023, his spouse was apprehended following the submission of a formal indictment by the ED. However, on the same day, the special tribunal granted her liberty, cognizant of her advanced age and fragile health condition.
