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Jet Airways

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Ankit Bansal
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50 views6 pages

Jet Airways

Uploaded by

Ankit Bansal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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UNIT OF ANALYSIS

Jet Airways top management with special focus on Naresh Goyal


and his management decision.

• Justification: Analysed through top management perspective to


understand how the events actually occurred, so that mechanism to
stop such occurrence can be developed.

Manjunathan M
CRITICAL MAJOR FINDINGS
1. BUSINESS DECISION VS WHIMSICAL DECISION

• Purchase of Air Sahara in cash of $500 Million, which was considered to be overpriced at
that time.
• Investment in loss-making business like Jet-Lite and written off the investment.
• Purchase of mixed fleet

Anil Kumar Nayak


CRITICAL MAJOR FINDINGS

2. UNETHICAL ACCOUNTING PRACTICES


• Exploiting the differences in the reporting guidelines as per
Indian accounting standards and the Indian Companies Act
• Several changes were done in the accounting policies
pertaining to the depreciation of assets, revaluation of
assets, treatment of liabilities in foreign currency.

Chandraprakash S
CRITICAL MAJOR FINDINGS
3. DIVERSION OF FUND FROM THE COMPANY AND FRAUDULENT ACTIVITY
• The airliner leased airplanes from a Ghost company based in Ireland and inflated the amount of the
lease around 20 to 30 percent in the invoices from the actual amount.
• Panama paper leaks have provided information on Hasmukh Gardi, who was on board for Jet airways.
Gardi reportedly owns 30 shell companies in various tax havens, some of which were involved with
transactions from Jet airways

Animesh Kumar Singh


LEMS

LEGAL ETHICAL
- Siphoning of Fund - Hiding information and blindfolding shareholders
- Related party transaction with offshore entities – FEMA - Adjusted company financial documents by changing
Violation accounting practices.

LEMS

SPIRITUALITY
MORAL - Wealth gained by unfair mean can be of no good to anyone.
- Top executives chose to remain silent regarding the - Naresh Goyel chose to act dishonestly and with deceit.
wrongdoings - Massive Lay-off of employees.

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/jet-formed-illegal-pacts-with-rel
ated-offshore-parties/articleshow/71590257.cms

Ankit Bansal

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