On Wednesday, the Bombay High Court extended the interim bail of Naresh Goyal, founder of Jet Airways, by two months on medical grounds. Goyal, who is facing a money laundering case, is undergoing treatment for cancer and depression. This extension marks the second time Goyal’s bail has been renewed since it was first granted on May 6. The Enforcement Directorate had arrested him in September 2023 for allegedly laundering Rs 538.62 crore. Goyal’s wife, Anita Goyal, was arrested in November 2023 and granted bail but passed away on May 16.

Bombay HC extends Naresh Goyal’s interim bail in ED case by two months

The delay in finalising the sale of three Boeing 777-300 aircraft has stalled Ace’s expansion plans by almost two years.

Dispute With Jet Airways Stall Ace Aviation’s Initial Expansion Plans

The Bombay High Court has given extension by four weeks to Jet Airways founder Naresh Goyal in a temporary bail that was granted to him in May.

Jet Airways founder Naresh Goyal gets four weeks extension on temporary bail

Goyal, 75, has now filed an application seeking extension of the same. The plea said his medical condition continues to remain poor and that he has also lost his wife to cancer on May 16

Jet Airways’ Naresh Goyal moves HC, seeks extension of interim medical bail

Naresh Goyal seeks extension of interim medical bail in HC citing poor health condition and recent loss of wife to cancer.

Jet Airways Founder Naresh Goyal Seeks Extension Of Interim Medical Bail In HC

Jet Airways delays financial results declaration, monitoring committee to meet soon for consideration and adoption of results

Resolution plan at implementation stage; FY24 results delayed: Jet Airways

Jet Airways founder Naresh Goyal’s wife Anita Goyal died on Thursday after a prolonged battle with cancer.

‘I’m Sad For Naresh’: Vijay Mallya Condoles Death Of Anita Goyal, Wife of Jet Airways Founder - News18

Anita Goyal is survived by her husband and two children, Namrata and Nivaan Goyal

Jet Airways Founder Naresh Goyal’s Wife Passes Away After Battling Cancer - News18

Supreme Court hears SBI consortium’s challenge to NCLAT’s approval of Jalan-Kalrock consortium’s resolution plan for Jet Airways.

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer

The lender says Jalan-Kalrock Consortium hasn’t adhered to conditions preceding the resolution plan.

Jet Airways Case: Panel’s Resolution Plan Has Become A Nightmare, SBI Tells Supreme Court

Due to his illness, Goyal is classified as “sick and infirm”, which, according to the Prevention of Money Laundering Act, permits the release on bail of individuals in such conditions.

Why Jet Airways Founder Naresh Goyal Has Been Released On Bail In A PMLA Case

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Profitability and efficiency haven't been upto the mark

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Jet Airways (India) Limited provides transportation of passengers by air. The Company provides scheduled airline with domestic and international operations.