According to highly placed sources, multiple agencies, including the Serious Fraud Investigation Office (SFIO), are probing Goyal's role in siphoning off loan amounts raised on behalf of Jet Airways to his other entities.
"Suspicious transactions", they said, have been found in the company's books that triggered the probe and a lookout circular against Goyal.
Even though the charge has not yet been fully investigated, it seems the government wanted Goyal to be present in the country while investigations proceed.
On Saturday, Goyal and his wife Anita were offloaded from a Dubai-bound flight and barred from leaving India.
The de-boarding comes days before the official swearing-in of the BJP-led National Democratic Alliance (NDA) government.
The government last year had come under attack from the opposition on the escape of Nirav Modi and Mehul Choksi, who are accused of having cheated state-run Punjab National Bank to the tune of Rs 14,000 crore.
On May 25, an Emirates flight with Goyal and his wife on board was recalled after it had already started moving on the runway preparatory to take-off from Mumbai Airport. The couple were taken into custody by the Mumbai Airport Immigration for investigations.
Some lawmakers had recently demanded that Mumbai Police impound the passports of Goyal and other senior officials of the airline to prevent them from leaving the country.
Having run out of cash, Jet Airways suspended its operations On April 17, impacting thousands of employees, its lessors, vendors and passengers.
Lenders of Jet Airways led by state-run State Bank of India are currently in the process of selling the airline to recover their dues of over Rs 8,400 crore.
(Rohit Vaid can be contacted at rohit.v@.in)
( With inputs from IANS )