(Reuters) -An Indian court on Saturday decided that Jet Airways founder Naresh Goyal will remain in India's financial crime agency's custody until Sept.
The Enforcement Directorate , which investigates financial crimes in India, arrested Goyal late on Friday.
The case relates to an alleged 5.38 billion Indian rupees bank fraud case filed by state lender Canara Bank. The losses to a consortium of nine lenders is much larger, at 59.6 billion Indian rupees , ED said. Goyal founded Jet Airways in 1992 but shut down operations in April 2019 after running out of cash. The airline was the second largest carrier in India by market share.
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