Goyal stepped down as chairman of the airline in March while Jet Airways shuttered operations on April 17 after running out of cash.
: The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh
Goyal in connection with a case of alleged contravention of the foreign exchange law, officials said. They said the searches were being carried out under the provisions of the Foreign Exchange Management Act (FEMA), and is aimed at gathering additional evidence. Premises in Mumbai
were being searched, they said. Also read: Jobs Crisis: Government Needs to Wake up and Smell the Masala Tea Jet Airways shuttered operations on April 17 after running out of cash. A ministry of corporate affairs inspection report had found large-scale irregularities, including diversion of funds, at the airline, sources had said in July. In March, Goyal stepped down as chairman of the airline. At present, Jet Airways is undergoing resolution process under the Insolvency and Bankruptcy Code.