The court was hearing Goyal's plea challenging the LOC against him on the ground that as on May 25, when he was de-boarded from a flight to Dubai, no ECIR/FIR was registered against him
Naresh Goyal
New Delhi: If Naresh Goyal, founder of the cash-strapped Jet Airways, wants to go abroad, he should first deposit as guarantee Rs 18,000 crore his company owes to lenders, the Delhi High Court observed on Tuesday while refusing to allow him to leave India. HC, however, sought the Centre's reply on his plea challenging a look out circular (LOC) issued against him.
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No interim relief can be granted to Goyal at this stage, Justice Suresh Kait said. "If you are ready to deposit Rs 18,000 crore bank guarantee, you can go abroad" he observed. The court was hearing Goyal's plea challenging the LOC against him on the ground that as on May 25, when he was de-boarded from a flight to Dubai, no ECIR/FIR was registered against him. The high court asked the ministries of Home Affairs, Corporate Affairs and Law and Justice to file their responses within four weeks. It put up the matter for further hearing on August 23.
Senior advocate Maninder Singh, appearing for Goyal, argued that on May 25 when the couple was de-boarded there was no material to show any attempt to evade the investigation and they were NRIs and required to go abroad for a certain period. Singh said that Goyal wanted to go to Dubai and London for the purpose of arranging funds for the Jet group which was facing financial crisis.
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