Wed Jan 07 13:51:20 UTC 2026: # ED Attaches Assets Worth ₹400 Crore in Jaypee Group Probe

The Story:
The Enforcement Directorate (ED) has provisionally attached immovable assets worth approximately ₹400 crore in connection with an ongoing investigation into Jaypee Infratech Limited (JIL), Jayprakash Associates Limited (JAL), and related entities. The probe centers on the alleged misappropriation of funds collected from homebuyers for the Jaypee Wishtown and Jaypee Greens projects. The attached properties belong to Jaiprakash Sewa Sanstha and Page 3 Buildtech Private Limited.

The investigation, triggered by multiple First Information Reports (FIRs) filed by defrauded homebuyers in Delhi and Uttar Pradesh, alleges criminal conspiracy, cheating, and criminal breach of trust against JIL, JAL, and their promoters and directors, including Manoj Gaur. The homebuyers claim funds meant for construction were diverted for other purposes, leaving projects incomplete.

Key Points:

  • The ED attached assets worth ₹400 crore belonging to Jaiprakash Sewa Sanstha and Page 3 Buildtech Private Limited.
  • The investigation stems from complaints by homebuyers of the Jaypee Wishtown and Jaypee Greens projects.
  • ₹14,599 crore was collected from over 25,000 homebuyers, as claimed before the National Company Law Tribunal.
  • A substantial amount of the collected funds was allegedly diverted for non-construction purposes, including to Jaypee Sewa Sansthan (JSS), Jaypee Healthcare Limited (JHL), and Jaypee Sports International Limited (JSIL).
  • Manoj Gaur, managing trustee of JSS, allegedly played a central role in the fund diversion. He was arrested on November 13, 2025, and remains in judicial custody.
  • Earlier, on May 23, 2025, the ED searched 15 locations in Delhi, Noida, Ghaziabad, and Mumbai.

Key Takeaways:

  • The Jaypee Group faces serious allegations of misappropriating funds meant for homebuyers, leading to significant financial losses for thousands.
  • The Enforcement Directorate is actively pursuing the case, attaching assets and making arrests to recover diverted funds.
  • This case highlights the risks associated with real estate investments and the importance of regulatory oversight in the sector.
  • The scale of the alleged fraud, involving thousands of homebuyers and crores of rupees, underscores the potential for widespread economic and social impact.
  • The investigation continues, and further attachments and arrests are possible as the ED uncovers more details about the alleged fraud.

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