Daijiworld Media Network - New Delhi

New Delhi, Jan 7: The enforcement directorate has provisionally attached immovable assets worth around Rs 400 crore in connection with its ongoing money laundering investigation into the Jaypee Group, an official statement said on Wednesday.

The properties, owned by M/s Jaiprakash Sewa Sanstha and M/s Page 3 Buildtech Private Limited, are linked to alleged financial irregularities and diversion of funds by Jaypee Infratech Ltd (JIL), Jaiprakash Associates Ltd (JAL), and their affiliated entities, primarily involving housing projects Jaypee Wishtown and Jaypee Greens.

The probe stems from multiple FIRs filed by homebuyers with the Economic Offences Wings of Delhi and Uttar Pradesh Police, alleging cheating, criminal conspiracy, and criminal breach of trust by JIL, JAL, and their promoters, including Manoj Gaur.

The ED’s investigation revealed that funds totaling approximately Rs 14,599 crore were collected from over 25,000 homebuyers for residential projects but were allegedly diverted for purposes unrelated to construction. Significant sums were reportedly routed to group entities such as Jaypee Sewa Sansthan, Jaypee Healthcare Ltd, and Jaypee Sports International Ltd, with Gaur identified as a primary beneficiary.

Assets were also allegedly diverted to M/s Page 3 Buildtech Private Limited, reportedly controlled by Honey Katiyal. Earlier, on May 23, 2025, the ED conducted searches at 15 locations across Delhi, Noida, Ghaziabad, and Mumbai, seizing extensive financial and digital records pointing to money laundering and fund diversion.

Manoj Gaur, the managing trustee of Jaypee Sewa Sansthan, was arrested on November 13, 2025, under Section 19 of the Prevention of Money Laundering Act (PMLA) and remains in judicial custody.

The ED confirmed that the investigation is ongoing as authorities continue to trace the complex network of financial transactions and recover diverted funds.