"Give Rs 18,000 crore bank guarantee and you can go"- Delhi High Court to Naresh Goyal

New Delhi: Delhi high court has asked the Jet Airways promoter Naresh Goyal to submit a bank guarantee of 18,000 crore before going out of the country. Goyal is being barred from travelling abroad by the court as the entrepreneur had recently appealed at the court that he wants to travel to Dubai for the purpose of collecting fund for the revival of the airlines.

Naresh Goyal had pleaded the court that he wants to travel to Dubai in the matters of the airlines, but Delhi High Court Justice Suresh Kumar Kait turned down the plea. Justice Kait said, “If you are ready to give Rs 18,000 crore bank guarantee, you can go (abroad).”

Reportedly, Goyal, along with his wife Anita was about to travel to Dubai on May 25 but was offloaded. He had then challenged the ‘look-out circular’ which was being issued to him in order to prevent him from travelling abroad.

Reacting at this restriction on Mr. Goyal, his counsel and senior advocate Maninder Singh has defended that the LOC was not warranted. His client Goyal is neither an accused in any case nor had he been named in any FIR or complaint made by the Enforcement Directorate. On such grounds, there is no point in barring the promoter from travelling abroad.

Reacting at this restriction on Mr. Goyal, his counsel and senior advocate Maninder Singh has defended that the LOC was not warranted. His client Goyal is neither an accused in any case nor had he been named in any FIR or complaint made by the Enforcement Directorate. On such grounds, there is no point in barring the promoter from travelling abroad. Singh adds that no material shows or proves that Goyal had made any attempt at evading investigation. Moreover, as Goyal is a non-resident Indian (NRI), it is necessary for him to travel abroad at a certain point of time.

The petition had asserted, “The petitioner herein contends that the impugned LOC has been issued without any basis. The petitioner submits that the impugned the Office Memoranda are bad in law and violative of Article 14 and 21 of the Constitution."

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