India court orders Jet Airways founder to remain in custody till Sept. 11

(Reuters) – An Indian court on Saturday decided that Jet Airways founder Naresh Goyal will remain in India’s financial crime agency’s custody until Sept. 11, according to two people familiar with the matter.

Enforcement Directorate which investigates financial crimes in India had arrested Goyal late on Friday night.

Jet Airways did not immediately respond to a request for comment.

The case relates to an alleged 5.38 billion Indian rupees ($65.06 million) bank fraud case filed by state lender Canara Bank.

The bank had filed a complaint in May against the airline, Goyal, his wife and a former airline director for “causing wrongful loss” to the lender.