The report could be referred to Serious Fraud Investigation Office (SFIO) for a probe of fraud allegations," the official said. Jet Airways did not immediately respond to an emailed questionnaire. Jet Airways suspended operations on 17 April under more than $1 billion of debt and a cash crunch. In his complaint, Gupta had alleged that Jet promoters were trying to siphon off ₹5,125 crore from the books of the airline. Jet Airways has seen a slew of exits of top personnel over the past few months.

Source: Mint May 09, 2019 13:45 UTC