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RoC orders inspection of Jet Airways for alleged siphoning of funds

The Mumbai Registrar of Companies (RoC) on Thursday ordered a formal inspection of cash-strapped Jet Airways for the alleged siphoning of funds, said people familiar with the matter.
The RoC in its preliminary scrutiny has found substantial grounds for further investigations against the airline, officials told CNBC-TV18, adding that it will conduct the  Inspection under section 206 (5) of the Companies Act.
The airline also confirmed RoC has sought explanations from the airline following receipt of a complaint.
"Jet Airways has received communication from the office of Registrar of Companies (RoC) seeking comments/ clarifications and explanations in response to a complaint received by their office," the company said in a statement.
"The company is taking necessary steps to submit its response in this regard," the statement said.
Without elaborating, the spokesperson also said the airline is unable to comment on any other speculative media reports on the subject.
Jet Airways reported a whopping Rs 1,323 crore of net losses for the June quarter due to higher fuel cost, falling rupee and low fares.