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Jet Airways share price rose 5 percent intraday on March 5 even after Enforcement Directorate (ED) registered a case against the airlines' former Chairman.
The Enforcement Directorate (ED) has registered a case against Naresh Goyal under the Prevention of Money Laundering Act (PMLA).
The MRA Marg Police in Mumbai registered a case against Goyal and his wife Anita under various sections of the Indian Penal Code (IPC) on order of the metropolitan magistrate for allegedly cheating Mumbai-based Akbar Travels of India to the tune of Rs 46 crore.
The complaint was lodged by company CFO Rajendran Neruparambil.
Searches were carried out at Goyal’s residence by officials in the evening on March 4. He was summoned to the ED office, where he was questioned for around four hours and then taken to his Mumbai residence at nine pm.
At 10:00 hrs, Jet Airways was quoting at Rs 23.15, up Rs 1.05, or 4.75 percent on the BSE.