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Bombay High Court rejects plea by Naresh Goyal challenging his arrest by ED in loan default case

Goyal approached the High Court challenging his arrest on the ground that it was illegal and arbitrary.

He also alleged that the orders placing him under ED custody first and judicial custody subsequently were without application of mind.

Goyal submitted that ED failed to make out any grounds for arrest and that there could have been no reasonable belief on the part of ED to believe Goyal committed laundering.

Goyal also contended that any action taken by Canara Bank pursuant to the master directions of the RBI was stayed by the High Court. Hence no further action can be taken.

The former promoter of Jet Airways, therefore, moved the court seeking quashing of the remand orders and his release from judicial custody considering his advanced age.

Source: Barandbench

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