SC seeks fresh Bol show cause notice in Naresh Goyal case

The Supreme Court on Friday told Bank of India (BOI) to consider issuing a fresh show cause notice to Naresh Goyal, founder of the now-defunct Jet Airways, before classifying his account as “fraud”, even as it observed that the facts that led the bank to take this action is “shocking” and requires to be monitored.

- Abraham Thomas

A bench of Chief Justice of India (CJI) Surya Kant and justice Joymalya Bagchi said, “We will permit the bank to issue fresh show cause notice. But what we find here is shocking. We would like to monitor it.

The court was hearing an appeal filed by BOI against a September 25, 2025 order passed by the Bombay high court setting aside a show cause notice issued to Goyal in July last year. The Jet Airways founder, who is already facing multiple probes by the Central Bureau of Investigation and Enforcement Directorate, had approached the high court claiming that the notice declared his account “fraud” without giving him a hearing.