The Supreme Court has expressed its intent to monitor the proceedings in the case against Naresh Goyal, the founder of Jet Airways, who is accused of money laundering and siphoning off public funds. The court voiced its concern over the alleged misappropriation of funds by corporate entities, deeming it "very shocking".

Naresh Goyal was arrested by the Enforcement Directorate (ED) in September 2023 on charges of laundering money and siphoning off loans amounting to ₹538.6 crore, which were extended to Jet Airways.

During a recent hearing, Goyal's counsel argued that a High Court order was based on a concession made by the bank and, therefore, could not be challenged in the Supreme Court. This argument referenced a specific paragraph in the High Court judgment, which stated that the bank would not act on the earlier classification of Goyal's account as fraudulent or on a show cause notice issued on July 1, 2025.

However, the Supreme Court bench responded by stating that the allegations were serious, and it would "like to monitor the proceedings" to determine where the funds were diverted. Following a brief hearing, the court deferred the proceedings at the request of the Solicitor General. The High Court had previously quashed the show cause notice issued by the bank to Goyal on July 1, 2025, but allowed the bank the option to issue a fresh notice.

In a related development, Naresh Goyal, who is 75 years old and battling cancer, had been granted permanent medical bail by the Bombay High Court in November 2024. Earlier, he had received interim bail for cancer treatment. His legal team argued that he required medical attention that couldn't be provided in custody. The court acknowledged his critical health condition, prioritizing his right to medical care while legal proceedings continue. The ED had arrested Goyal in September 2023, alleging he laundered money and siphoned off loans of ₹538.62 crore given to Jet Airways by Canara Bank.

The legal proceedings in the money laundering case are ongoing. The charges against Goyal include money laundering under the Prevention of Money Laundering Act (PMLA), with accusations of siphoning off funds to foreign entities.