The Bombay High Court is set to deliberate on Jet Airways founder Naresh Goyal's plea contesting his arrest and subsequent remand orders, deeming them "unwarranted, arbitrary, and illegal."
The Enforcement Directorate (ED) took Goyal into custody on September 1. After being under the agency's custody until September 14, a special judge, MG Deshpande, transferred him to judicial custody on Thursday.
Goyal refrained from filing a bail plea in the lower court. Instead, he lodged a plea related to "Prevention and Detention and Habeas Corpus" before the bench consisting of Justices Revati Mohite-Dere and Gauri Godse.
While notice hasn't been issued yet, it is anticipated that the ED will appear before the bench on Wednesday to contest the plea.
The plea, presented by advocate Ameet Naik, argues that the arrest was executed "without complying with the mandatory requirements of section 19 of the Prevention of Money Laundering Act (PMLA)," rendering the arrest "vitiated." Consequently, the plea asserts that Goyal should be "entitled to be released forthwith."
The plea not only challenges the arrest that occurred on September 1 but also questions Goyal's remand to ED custody as sanctioned by the special PMLA court.
According to the ED's argument, a substantial loan of Rs 538 crore was procured from a Consortium of Banks for a specific purpose, which was allegedly not used for its intended objective but was instead diverted for personal benefits and necessities. Furthermore, it is claimed that properties were purchased overseas using the proceeds from these alleged unlawful activities.
