The regulatory authorities in Liechtenstein, Switzerland, and Austria raided the offices of Kalrock Capital Partners’ promoter Florian Fritsch. It claimed that the acquisition of Jet Airways will not be impacted by these probes. Florian is helping with the investigations, it was added.
“Kalrock Capital Partners Ltd states that Florian Fritsch, its promoter, is assisting in several inquiries made by Liechtenstein, Swiss, and Austrian regulatory bodies. The investigation, which is still ongoing, was started in response to anonymous accusations about certain enterprises in which Florian himself invests money as one of the financial backers. The disagreements are of a business-related nature. Regarding these disagreements and concerns, which are also being looked at, Florian has already filed complaints with the relevant High Court, according to Kalrock.
It also stated that neither Kalrock nor Jet are involved in the current inquiries or accusations. These inquiries have no bearing on the purchase of Jet Airways, and Jalan-Kalrock Consortium is still committed to buying Jet Airways, the statement stated.
The announcement follows raids on several homes connected to Florian Fritsch by prosecutors in Liechtenstein, Switzerland, and Austria as part of a bigger investigation into possible fraud and money laundering.
A group of investors, including Florian Fritsch and Kalrock Capital, is working to save Jet Airways, which filed for bankruptcy in 2019. Businessman Murari Lal Jalan, who resides in Dubai, is also a member of the Kalrock-Jalan consortium.