ED Attaches ₹400 Cr Worth Assets in Jaypee Group Money Laundering Case

The Enforcement Directorate has attached immovable assets worth around ₹400 crore in the Jaiprakash Associates Limited (JAL) money laundering case. The case stems from the alleged misappropriation of funds collected from homebuyers for the Jaypee Wishtown and Jaypee Greens projects. ED's probe into the case involved Jaypee Infratech Limited (JIL), JAL and associated entities.

Point to note: JAL, the flagship company of the Jaypee Group, is involved in multiple sectors including real estate, construction, power, hotels, and sports complexes. Among its real estate ventures is the Jaypee Greens brand, under which large townships and housing projects have been developed and marketed. JIL is another company within the Jaypee Group that was specifically focused on large-scale real estate development, particularly residential projects such as Jaypee Wishtown, Noida.

The investigation was initiated as several FIRs were registered by the Economic Offences Wings of Delhi and Uttar Pradesh Police after homebuyers complained about Jaypee Wishtown and Jaypee Greens projects.

The complaints alleged criminal conspiracy, cheating and criminal breach of trust against JIL, JAL and their promoters and directors, including group chairman Manoj Gaur.

During the probe, the ED had conducted search operations on May 23, 2025 at 15 locations in Delhi, Noida, Ghaziabad, and Mumbai, including the offices and premises of JAL and JIL. During the searches, ED seized a large volume of financial and digital records, along with documents evidencing the offence of money laundering and diversion of funds.

As a result of the probe, ED stated that JAL and JIL together collected approximately ₹14,599 crore from more than 25,000 homebuyers.

While these funds were meant for construction and completion of these residential projects, but they were actually siphoned off to related group entities and used for other purposes. The susbstantial amounts were diverted to Jaiprakash Sewa Sansthan (JSS), Jaypee Healthcare Limited (JHL) and Jaypee Sports International Limited (JSIL).

ED further said that during the investigation it found that Gaur is the Managing Trustee of Jaiprakash Sewa Sansthan (JSS), which received part of the diverted funds. The probe also established diversion of assets of JIL, and JAL by Gaur to other entities including Page 3 Bullidtech, which is controlled and beneficially owned by Honey Katiyal.

The investigation had established the central role of Gaur in the planning and execution of the fund diversion through a complex web of transactions within the Jaypee Group and its associated entities. Gaur was arrested on November 13, 2025 under the Prevention of Money Laundering Act (PMLA). He is presently in judicial custody.