India to investigate Jet Airways over alleged funds mismanagement
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India has ordered an investigation into alleged mismanagement of funds at Jet Airways, which halted operations in April after running out of cash.
The Ministry of Corporate Affairs on Thursday ordered India’s Serious Fraud Investigation Office (SFIO) to carry out the investigation, a government order seen by Reuters showed.
The order refers to alleged siphoning of funds and unspecified financial irregularities at Jet Airways, which was once India’s largest private airline, but did not include details on the allegations or name any individuals.
A Jet Airways spokesperson did not immediately respond to a request for comment on the order, which also called for investigations into Jet’s group companies including low-cost Jet Lite and Jet Privilege, which manages its loyalty programme.
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Comments (12) Closed
Jul 05, 2019 03:42pm
It's just tip of the iceberg in the biggest corruption capital of the world also notorious the world over, as the top false, fake, sham, shame and fraud democracy in the world.
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Jul 05, 2019 05:48pm
Siphoning of funds and endless financial irregularities are the hallmark of any government in the third world countries today.
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Jul 05, 2019 06:56pm
As we know, much stealing goes on in South Asia.
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Jul 05, 2019 09:42pm
@Dr. Salaria, Aamir Ahmad, As your country sinks further and further under loans to pay off further loans, and stares at FATF blacklisting that will finally sink it, your comments seem to getting more and more shrill and hysterical. Now you've reached a point where your usual bile filled hatred is giving way to pure nonsense. Doctor saab, you need to see a real doctor, one with actual education.
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Jul 05, 2019 10:05pm
@Dr. Salaria, Aamir Ahmad, Dear doc as per your PM and also data released by few unnamed swiss bank officials, your politicians and elite looted your awaam worse than India.
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Jul 05, 2019 10:17pm
For all the negative comments here, let me put one thing straight. In India we take action against corporate fraud. The guilty are indicted, convicted and sentenced to prison. However, in Pakistani they join the ruling party.
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Jul 05, 2019 10:22pm
Jet is a private airline. Pakistanis have no clues.
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Jul 05, 2019 10:38pm
@Dr. Salaria, Aamir Ahmad, "biggest corruption capital of the world also notorious the world over, as the top false, fake, sham, shame and fraud democracy"
What other choice do we have than mouthing as many deplorable statements as possible against their very idea? Whatever we say, they just keep surviving and thriving and growing stronger. Looks like it was destined to be, given the very nature of our overlords. The moment we forcibly keep them in the barracks for true democracy, we win!
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Jul 05, 2019 10:54pm
@Dr. Salaria, Aamir Ahmad, There is more Chinese courruption money in tax heaven than any other country in the world.How about that .India comes not even in top ten.
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Jul 06, 2019 02:04am
Ex-UPA Civil Aviation Minister who is already under the scanner for receiving bribes from & unduly favouring Emirates Airlines is the man behind this scandal too. That is why that corrupt cohort of UPA was booted out by Indians.
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Jul 06, 2019 06:04am
@Bhaijaan, As per latest developments your comments are outdated, Pak has came out of trouble and now sailing smooth. It’s going to be more perfect under PM Imran Khan administration. Still my advise to Indians forget that Pak could be isolated. Pak doors for talks are open, and India may move forward for resume composite dialogues.
Ofcourse it was an Indian sayings ‘ you can change friends but not neighbors ‘
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Jul 06, 2019 06:20am
@M. Saeed, which India ...the 6th largest economy in the world ....is not
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