The Enforcement Directorate (ED), which on Friday conducted extensive search operations at Naresh Goyal’s business and residential premises in 12 locations, has alleged that Tail Winds, incorporated by him in Isle of Man, was controlling the financial activities of Jet Airways.
Goyal will be called for questioning next week, an ED official said. According to the probe findings, Hasmukh Deepchand Gardi, who was named in the Panama Paper global leaks for allegedly holding fraudulent companies and was also Goyal’s partner, made investments in Tail Winds. Gardi’s premises were also searched on Friday. His investments in Goyal’s firm have come from illegal activities, according to the official.
The probe agency has also alleged that Goyal’s companies executed several “colourable transactions” under the guise