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1-min read

Ministry of Corporate Affairs Orders Probe into Jet Airways' 'Mismanagement of Funds'

The ministry ordered India's Serious Fraud Investigation Office (SFIO) to carry out the probe, according to a government order seen by Reuters.

Reuters

Updated:July 4, 2019, 11:58 PM IST
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Ministry of Corporate Affairs Orders Probe into Jet Airways' 'Mismanagement of Funds'
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New Delhi: India's Ministry of Corporate Affairs on Thursday ordered an investigation into embattled Indian carrier Jet Airways over alleged mismanagement of funds, in another headache for the airline that halted operations in April after running out of cash.

The ministry ordered India's Serious Fraud Investigation Office (SFIO) to carry out the probe, according to a government order seen by Reuters.

A spokesperson for Jet Airways did not immediately respond to a request for comment outside business hours.

Separately, a government source told Reuters that the airline's former chairman, Naresh Goyal, had approached Delhi High Court to quash an order by authorities that stops him from travelling abroad. The government plans to oppose Goyal's plea, the source added.

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