India, Sept. 5 -- Seeking discharge from the Rs.538.62-crore money laundering case, Jet Airways founder Naresh Goyal on Friday claimed that the airline's 2019 financial crisis was caused by adverse macroeconomic conditions rather than any fraudulent conduct on his part.

The case stems from an FIR registered by the Central Bureau of Investigation (CBI) in May 2023 based on a complaint by Canara Bank, which alleged that Jet Airways (India) Ltd had defaulted on Rs.538.62 crore out of loans and credit facilities worth Rs.848.86 crore sanctioned to it. The Enforcement Directorate (ED) subsequently registered a money-laundering case and alleged that funds from the loans were diverted and used for purposes unrelated to the airline.

In his disc...