Jet Airways founder Naresh Goyal at Enforcement Directorate (ED) office, in Mumbai.
PTI Photo
Jet Airways employees stage a protest at Jantar Mantar, in New Delhi.
PTI Photo/Ravi Choudhary
Jet Airways employees stage a protest at Jantar Mantar, in New Delhi.
PTI Photo/Ravi Choudhary
Jet Airways employees raise slogans during a protest appealing the government's interference to save the debt-laden airlines, outside Civil Aviation Ministry, at Rajiv Gandhi Bhawa...
PTI Photo/Shahbaz Khan
Jet Airways employees raise slogans during a protest appealing the government's interference to save the debt-laden airlines, outside Civil Aviation Ministry, at Rajiv Gandhi Bhawa...
PTI Photo/Shahbaz Khan
Bharatiya Kamgar Sena President Suryakant Mahadik addresses a press conference regarding Jet Airways issue, in Mumbai.
PTI Photo/Mitesh Bhuvad
Jet Airways employees stage protest at Jantar Mantar in New Delhi.
Photo by Suresh K Pandey/Outlook
Jet Airways employees stage protest at Jantar Mantar in New Delhi.
Photo by Suresh K Pandey/Outlook
Anger On The Streets
Jet Airlines pilots during a demonstration against the suspension of operations.
Photograph by PTI
Jet Airways employees display placards as they gather to make an appeal for saving the cash-starved airline following the temporary shutdown of its operations, at NSCBI Airport in ...
PTI Photo/Ashok Bhaumik
Jet Airways employees display placards as they gather to make an appeal to save the cash-starved airline following the temporary shutdown of its operations, in Bengaluru
PTI Photo/Shailendra Bhojak
An employee of Jet Airways cries as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi
AP Photo/Manish Swarup
An employee of Jet Airways holds a placard as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi.
AP Photo/Manish Swarup
Passengers stand at the Jet Airways counter at Chhatrapati Shivaji Maharaj International Airport in Mumbai.
AP Photo/Rafiq Maqbool
Employees of Jet Airways gather to demand clarification on unpaid salaries at the company headquarters in Mumbai.
AP Photo/Rafiq Maqbool
A Jet airways reception desk is seen deserted at the company's headquarters in Mumbai. Jet Airways, once India's largest airline, announced that it is suspending all operations aft...
AP Photo/Rafiq Maqbool
Employees of Jet Airways gather to demand clarification on unpaid salaries at Jet Airways headquarters in Mumbai.
AP Photo/Rafiq Maqbool
Employees of Jet Airways participate in a protest to demand clarification on unpaid salaries, in Mumbai.
AP Photo/Rajanish Kakade
Employees of Jet Airways participate in a protest to demand clarification on unpaid salaries, in Mumbai
AP Photo/Rajanish Kakade
Employees of Jet Airways participate in a protest to demand clarification on unpaid salaries, in Mumbai
The Enforcement Directorate had carried out searches on Friday at a dozen locations of Naresh Goyal, his firms and partner agencies in Mumbai and Delhi on charges of alleged contravention of the foreign exchange law.
Justice Suresh Kait said no interim relief can be granted to Jet Airways Founder Naresh Goyal at this stage, and added that he may deposit Rs 18,000 crore guarantee if he wants to travel to a foreign country now.
The airline operated last in April this year after it ran out cash, owing over Rs 8,500 crore to the State Bank of India and 25 other financial creditors.
Jet Airways stocks hit an intra-day low of Rs 32.25 per share, falling by a massive 52 per cent. At 1.41 p.m, Jet's stocks were trading at Rs 38.05 per share, down Rs 30.25 or 44.29 per cent.
In 2017, the Mumbai-Delhi Jet Airways flight had made the emergency landing after a note stating that there were hijackers and a bomb on board was found in the plane's washroom.
The disclosure came after Naresh Goyal and his wife Anita Goyal were stopped by immigration authorities at Mumbai airport, minutes before their aircraft was about to take off for London via Dubai.
Jet Airways crash-landed after ruling the skies for 26 years. With massive debts and with no investors keen to rescue the beleaguered airline, the life jackets are out