Kalrock Capital Partners said on Monday that raids conducted by investigation agencies against its promoter, Florian Fritsch, will have no impact on the acquisition of Jet Airways.
Regulatory authorities in Liechtenstein, Switzerland and Austria raided multiple properties linked to Florian Fritsch last month, according to media reports.
Kalrock Capital in a press statement said that Mr. Fritsch was “assisting” in certain investigations, based on complaints filed “in relation to certain businesses where Florian is one of the financial investors in his personal capacity.” It added that these investigations were commercial in nature, and not criminal.
“Florian confirms that neither Kalrock Capital Partners nor Jet Airways have any connection with these ongoing investigations, or the charges made thereunder, and these investigations have no impact on the acquisition of Jet Airways.”
Fritsch and his investment company Kalrock Capital are part of a consortium picked to revive Jet Airways, which filed for bankruptcy in 2019. Fritsch’s partner is Murari Lal Jalan, a businessman based in Dubai.