India to investigate Jet Airways over alleged funds mismanagement

India ordered an investigation Thursday into alleged mismanagement of funds at Jet Airways, which halted operations in April after running out of cash. The Ministry of Corporate Affairs has ordered India's Serious Fraud Investigation Office (SFIO) to carry out the investigation, a govt order showed. The order refers to alleged siphoning of funds and unspecified financial irregularities at Jet Airways, which was once India's largest private airline, but did not include details on the allegations or name any individuals. The order also called for investigations into Jet's group companies. In a separate development, a govt source said that the founder of Jet Airways, Naresh Goyal, had approached Delhi High Court, seeking to overturn an order that stops him from travelling abroad. <br/>