Mumbai: Founder of Jet Airways, Naresh Goyal had hundreds of bank accounts in foreign countries and he had siphoned off the money to trust created for the benefits of his family, the Enforcement Directorate has claimed in its complaint for money laundering case against him.
The agency is still probing his foreign accounts and trusts set up to hold properties and funds.
The agency on Tuesday submitted a prosecution complaint alleging that ₹5716.34 crores is the proceeds of crime, and have been laundering by Goyal for the personal benefits and for his family.
The agency claimed that Goyal has been a Non Resident India since 1991 and holds hundreds of bank accounts in foreign countries. The agency claimed that Goyal refused to share a single document about his investments, bank account details, properties owned by him and his family members during the course of investigation.
The agency alleged that Goyal has blatantly siphoned off funds from JIL which was already a loss making entity for a long time. It claimed that Goyal created foreign trusts and is holding expensive assets abroad and is totally non cooperative and evasive in his conduct. The ED is still in process to probe further on these trusts and accounts set up by Goyal in foreign lands.
Goyal did not provide information about trusts: ED
The agency claimed that during the probe when the agency questioned him about these trusts, Goyal did not provide information and kept on repeating that Dilip Thakkar, a chartered accountant had all the information regarding trusts and claimed that the trusts are managed by HD Gardi, who also holds power of attorney for Goyal to manage all his foreign investments and accounts.
Besides, the agency claimed that during the probe it was revealed that Goyal had set up three trusts which are: PAN Horizons Trusts, New Horizon trust and Knightsbridge Horizon trust. The beneficiaries of these trusts are Naresh Goyal, his wife Anita Goyal, his son Nivaan Goyal and daughter Namrata Goyal. The family owns several assets and properties through a complex web under these trusts.
The agency claimed that initially the trustee of these trusts was Hongkong Bank Trustee Company Limited. Later, the trusteeship was changed to IQEQ trusteeship company in Jersey. This trustee, the agency alleged, froze finances which comprised rental income and interest income of the three trusts citing investigation against Goyal.
However, the agency further alleged that after this, the trusteeship of these trusts was changed to a new trustee by the name Summit trust international SA, Geneva which continues to be the trustee of trusts. The trusts in turn hold three companies which are M/s Dunbridge Business Development Inc, M/s Lamari Assets holding limited BVI and M/s Craigmore Holding Limited BVI. These three companies in turn hold the assets and immovable properties of these trusts.
Goyal's properties in London
The investigation revealed that Goyal and his family owned three properties in London through these trusts. Also, Nivaan was paid an amount of ₹4 Million for his business and expenses from the accounts of these trusts.
Besides this, Goyal had set up a family trust in his name in India in 1996. Naresh Goyal and his wife were trustees of this trust till November 2022. Thereafter, a company namely Maribel Custodian Services Pvt was appointed as new trustee. The company presently owns 50.59% of shares in Jetair pvt, 100% share of Jet Enterprises Pvt Limited, 35% of International Cargon Carriers Pvt ltd, and partnership share of 41.18% in National Travel Services. The trust also has closing balance of ₹40.96 lakhs in its bank account.
Thakkar who is director of Maribel Custodian Services Pvt in his statement said that he didn't know Goyal at all till the second half of 2019, when a Dubai based CA firm namely SM Joshi and company appointed him to deal with the trustee of the foreign trusts.