Kalrock says raid on promoter Florian Fritsch won’t impact Jet Airways acquisition

Kalrock Capital Partners has confirmed that its promoter, Florian Fritsch, has been raided by regulatory agencies in Liechtenstein, Switzerland, and Austria. It said that these investigations have no impact on the acquisition of Jet Airways. It added that Florian is assisting in the investigations.

“Kalrock Capital Partners Ltd confirms that its promoter, Florian Fritsch, is assisting in certain investigations initiated by regulatory agencies in Liechtenstein, Switzerland, and Austria. The investigation, which is ongoing, has been initiated based on anonymous complaints filed in relation to certain businesses where Florian is one of the financial investors in his personal capacity. The disputes are commercial in nature. Florian has already filed complaints with the concerned High Court regarding these disputes and complaints, which are also being investigated,” said Kalrock.

It added that neither Kalrock nor Jet has any connection with these ongoing investigations or charges. These investigations have no impact the acquisition of Jet Airways, and Jalan-Kalrock Consortium remains committed towards Jet Airways,” it said.

The statement comes after prosecutors in Liechtenstein, Switzerland and Austria raided multiple properties linked to Florian Fritsch as part of a larger investigation into suspected fraud and money laundering.

Florian Fritsch and Kalrock Capital are part of a consortium that is aiming to revive Jet Airways that filed for bankruptcy in 2019. The consortium Kalrock-Jalan, also comprises Dubai-based businessman Murari Lal Jalan.

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