MCA issues lookout circular against Jet Airways former CEO Vinay Dube

Updated : May 31, 2019 09:29 PM IST

The ministry of corporate affairs (MCA) on Friday has issued a look-out circular (LOC) against the former chief executive officer of Jet Airways Vinay Dube in connection with the financial irregularities in the running of the grounded airline, sources privy to the developments told CNBC-TV18.

According to multiple people familiar with the development, LOC against Dube was to restrict his travel outside the country and to ensure that investigations were not hampered.

Last week, founder of Jet Airways Naresh Goyal and his wife Anita Goyal were stopped from leaving the country by the immigration officials at the Mumbai airport. Later, the couple was released after their documents were checked.

On May 14, Dube resigned with immediate effect citing personal reasons, "We wish to inform you that Vinay Dube, Chief Executive Officer of the Company, vide his letter dated 14 May 2019, has resigned from the services of the company with immediate effect due to personal reasons," Jet Airways said in a communication to stock exchanges.

Dube had joined Jet Airways in August 2017 after varied roles at Delta Airlines Inc, Sabre Inc and American Airlines. Prior to Jet Airways, he was the senior vice president for the Asia Pacific at Delta Airlines.

A lookout notice is an intimation to immigration authorities at all the ports of exit to intimate the investigation agency in case the accused tries to leave the country. The immigration authorities may also detain the person if requested by the agency.

MCA issues lookout circular against Jet Airways former CEO Vinay Dube

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