The Enforcement Directorate (ED) has taken decisive action against the embattled Jaypee Group, provisionally attaching immovable assets valued at approximately Rs 400 crore. This major step is part of an ongoing money laundering investigation into the alleged large-scale diversion of funds collected from thousands of homebuyers.
Details of the Enforcement Directorate's Action
The attachment was carried out on January 8, 2026, by the ED's Delhi Zonal Office under the stringent Prevention of Money Laundering Act (PMLA), 2002. The assets in question belong to Jaiprakash Sewa Sanstha and Page 3 Buildtech Private Limited. This move is a direct outcome of a probe targeting Jaypee Infratech Ltd (JIL), Jaiprakash Associates Ltd (JAL), and other connected entities over alleged fraud in the Jaypee Wishtown and Jaypee Greens housing projects.
The investigation was initiated based on multiple First Information Reports (FIRs) registered by the Economic Offences Wings of the Delhi and Uttar Pradesh Police. These FIRs, filed by aggrieved homebuyers, allege serious offences including criminal conspiracy, cheating, and criminal breach of trust against the companies, their promoters, and directors, notably Manoj Gaur.
Scale of the Alleged Fund Diversion
According to the ED's findings, the scale of the financial misconduct is staggering. The agency claims that JAL and JIL collected around Rs 14,599 crore from over 25,000 homebuyers, a figure admitted before the National Company Law Tribunal (NCLT). The probe has revealed that substantial portions of these funds, meant for construction, were allegedly diverted for unrelated purposes.
The ED alleges that money was siphoned off to various group entities, including:
- Jaypee Sewa Sansthan (JSS)
- Jaypee Healthcare Ltd (JHL)
- Jaypee Sports International Ltd (JSIL)
Manoj Gaur, identified as the managing trustee of Jaypee Sewa Sansthan, is alleged to have played a central role in this planning and execution. The agency further states that assets of JIL and JAL were diverted to other entities like Page 3 Buildtech Private Limited, which is reportedly controlled by Honey Katiyal.
Investigation Timeline and Arrest
This latest attachment follows extensive searches conducted by the ED on May 23, 2025, at 15 locations across Delhi, Noida, Ghaziabad, and Mumbai. During these raids, the agency seized crucial financial, digital, and documentary evidence purportedly detailing the money laundering and fund diversion.
The investigation reached a critical point with the arrest of Manoj Gaur on November 13, 2025, under Section 19 of the PMLA. He remains in judicial custody. The ED, in its press release, emphasized Gaur's "central role in the planning and execution of the fund diversion through a complex web of transactions."
The case underscores a severe breach of trust, where funds from hopeful homebuyers were allegedly misused, leaving residential projects incomplete and dreams shattered. The ED's action marks a significant step in attempting to secure justice and recover the misappropriated assets.
