Jet saga: Lookout notice against airline's CEO Vinay Dube

The lookout notices has been served against people who allegedly siphoned funds or were involved in serious fraud and irregular transactions, Vinay Dube being one of them.

Published: 02nd June 2019 02:09 PM  |   Last Updated: 02nd June 2019 02:10 PM   |  A+A-

An Air India passenger plane takes off from Sardar Vallabhbhai Patel International Airport in Ahmedabad

An Air India passenger plane takes off from Sardar Vallabhbhai Patel International Airport in Ahmedabad January 30, 2013. (File | Reuters)

By IANS

NEW DELHI: Not just Jet Airways' former Chairman Naresh Goyal, but even its former Chief Executive Officer, Vinay Dube has been barred from leaving India, as a probe into the financial irregularities in the running of the grounded airline continues.

The Ministry of Corporate Affairs (MCA) has issued a lookout circular against Dube, similar to the one which was earlier issued on Goyal.

Dube had resigned from the services of the company with immediate effect from May 14 due to personal reasons. 

According to sources, the MCA has sent out a lookout circular for over 20 people suspected of economic offences and Dube is included in the list. 

Sources said that the lookout notices has been served against people who allegedly siphoned funds or were involved in serious fraud and irregular transactions. Indicating a strict stance against economic offenders, the circular sent out to investigating and securities agencies says their "summer vacation needs to stop". 

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The development comes days after Goyal and his wife Anita were off-loaded from a London-bound flight in Mumbai due to a lookout circular that has been issued against them by the MCA and the Serious Fraud Investigation Office (SFIO). 

Having run out of cash, Jet Airways had suspended operations On April 17, impacting thousands of employees, lessors, vendors and passengers. 

Lenders of Jet Airways led by state-run State Bank of India are currently in the process of selling the airline to recover their dues of over Rs 8,400 crore.

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