The Enforcement Directorate (ED) has taken a major step in its ongoing money laundering investigation against the Jaypee Group by provisionally attaching immovable properties worth nearly Rs 400 crore under the Prevention of Money Laundering Act (PMLA), 2002.
According to officials, the attached assets are linked to Jayprakash Sewa Sansthan (Trust) and Page 3 Buildtech Private Limited, and form part of a larger probe into the alleged diversion of homebuyers’ funds collected for housing projects in Noida.
Rs 14,599 Crore Collected from Over 25,000 Homebuyers
The ED’s investigation revealed that Jaypee Associates Limited (JAL) and Jaypee Infratech Limited (JIL) had raised around Rs 14,599 crore from more than 25,000 homebuyers for multiple residential projects in Noida.
However, instead of using the funds for construction, a substantial portion was allegedly diverted to other group entities, including Jaypee Healthcare and Jaypee Sports International, leading to massive delays and thousands of buyers being left without possession of their homes even after more than a decade.
Many affected buyers had booked flats as early as 2010, but projects such as Jaypee Wishtown and Jaypee Greens remain incomplete.
Former MD Manoj Gaur’s Key Role Under Scanner
The ED has identified Manoj Gaur, former Managing Director of Jaypee Infratech, as a key figure in the planning and execution of the alleged fund diversion. He was arrested on November 13, 2025, and is currently in judicial custody.
Investigators allege that the financial manipulation was carried out in a structured manner, routing funds through multiple entities to obscure the money trail.
Details of Attached Properties
The provisionally attached assets include:
◆Immovable properties linked to Jayprakash Sewa Sansthan, valued at approximately Rs 400 crore
◆Joint properties associated with Page 3 Buildtech Pvt Ltd and Honey Katyal, also estimated at around Rs 400 crore
These assets are believed to represent proceeds of crime generated through the alleged misuse of homebuyers’ money.
Case Linked to Multiple EOW FIRs
The money laundering probe is based on several FIRs registered by the Economic Offences Wing (EOW) of Delhi and Uttar Pradesh Police. Homebuyers accused the Jaypee Group of criminal conspiracy, cheating, and breach of trust, prompting a multi-agency investigation.
Takeovers and What Lies Ahead
Jaypee Infratech has already been taken over by the Suraksha Group, while Adani Enterprises’ bid for Jaypee Associates has received approval from creditors.
The ED has clarified that the investigation is ongoing, with a focus on tracing fund flows, identifying beneficiaries, and locating additional assets. Officials have not ruled out further attachments in the coming weeks.
