Now Jet Airway’s ex-CEO barred from leaving India
The Indian government now has a list of 20 people tied to Jet Airways’ collapse, including former CEO Vinay Dube, who are barred from leaving the country.
The ministry of corporate affairs has raised look-out circulars (LOC) against Dube and other executives, as officials probe possible financial irregularities,
Founder and former chairman Naresh Goyal and his wife were stopped from leaving the country last week, as they were hauled off a Dubai bound Emirates jet which was ordered back to the gate.
A look-out circular is a watch list which orders immigration officials to alert authorities that a person is attempting to leave the country.
Immigration officials have the power to detain a person in this case.
It was revealed in local media that Dube has been added to the list of persons of interest connected to Jet Airways’ troubles.
He stood down as CEO two weeks ago citing ‘personal reasons.’
He joined Jet Airways two years ago after serving in various senior roles at Delta Air Lines.
The government doesn’t want to repeat the mistakes involving ‘wilful defaulter’ Vijay Mallya.
Mallya is in London fighting extradition and was charged with money laundering linked to the collapse of Kingfisher Airlines six years ago.
Mallya was allowed to leave the country at the time even though he was under investigation.
Even though investigations into Jet Airways’ financial dealings are still ongoing and no charges have been filed, the government is taking no chances.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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