ED Attaches Rs 400-Cr Assets In Money Laundering Case Against Jaypee Group

The Enforcement Directorate (ED) on Wednesday said it has attached immovable assets with a current market value of Rs 400 crore belonging to Jaiprakash Sewa Sanstha and Page 3 Buildtech Private Limited in connection with an ongoing money-laundering investigation into the Jaypee group.

The agency said the attachment forms part of a money-laundering investigation involving Jaypee Infratech Ltd (JIL), Jayprakash Associates Ltd (JAL), and associated entities, related to large-scale fraud and misappropriation of funds collected from homebuyers for the Jaypee Wishtown and Jaypee Greens Projects.

ED said it initiated investigation against Jaypee group on the basis of multiple First Information Reports (FIRs) registered by the Economic Offences Wings (EOW) of Delhi and Uttar Pradesh Police, based on complaints filed by homebuyers of Jaypee Wishtown and Jaypee Greens projects, alleging criminal conspiracy, cheating, and criminal breach of trust against the JIL and JAL and their promoters and directors including Manoj Gaur.

“It has been alleged that the funds collected from thousands of homebuyers for construction and completion of residential projects were diverted for purposes other than construction, leaving the homebuyers defrauded and their projects incomplete “, said the ED.

ED investigation revealed that out of approximately Rs 14,599 crore collected by JAL and JIL from more than 25,000 homebuyers (as per claims admitted by NCLT), substantial amounts were diverted for non-construction purposes and siphoned off to related group entities, including Jaypee Sewa Sansthan (JSS), Jaypee Healthcare Ltd (JHL), and Jaypee Sports International Ltd (JSIL).

“It has also been revealed during the investigation that Manoj Gaur is the Managing Trustee of Jaypee Sewa Sansthan (JSS), which received part of the diverted funds,” said the ED.

“Further, investigation has also established diversion of assets of JIL and JAL by Manoj Gaur to other entities, including Page 3 Buildtech Private Limited, which is controlled and beneficially owned by Honey Katiyal.”

Earlier, on May 23, 2025, the ED conducted searches at 15 locations across Delhi, Noida, Ghaziabad, and Mumbai, including the offices and premises of Jaiprakash Associates Ltd and Jaypee Infratech Ltd.

During the searches, the ED seized a large volume of financial and digital records, along with documents evidencing offences of money laundering and the diversion of funds.

ED said its investigation has established the central role of Manoj Gaur in the planning and execution of the fund diversion through a complex web of transactions within the Jaypee Group and its associated entities.

Manoj Gaur was arrested on November 13, 2025, under Section 19 of the PMLA, 2002, after following due legal procedure. He is presently in judicial custody. (ANI)