New Delhi, Nov 13 (UNI) The Enforcement Directorate (ED), Delhi Zonal Office, on Thursday arrested Manoj Gaur, the former Executive Chairman and Chief Executive Officer of Jaiprakash Associates Ltd. (JAL) and former Chairman and Managing Director of Jaypee Infratech Ltd. (JIL), in a money laundering case linked to the Jaypee Group.
“The arrest was made on Thursday following a detailed investigation and analysis of evidence gathered during the ongoing probe in an ECIR recorded by the ED under the PMLA in connection with the Jaypee Group,” said an ED official.
The ED initiated its PMLA investigation against the Jaypee Group based on multiple FIRs registered by the Economic Offences Wings (EOW) of Delhi and Uttar Pradesh Police. These FIRs were filed on complaints from homebuyers of the Jaypee Wishtown and Jaypee Greens projects, alleging criminal conspiracy, cheating, and criminal breach of trust by the company and its promoters. The complaints alleged that funds collected from thousands of homebuyers for the construction and completion of residential projects were diverted for other purposes, leaving the homebuyers defrauded and their projects incomplete.
The ED investigation revealed that out of approximately Rs. 14,599 crore collected by JAL and JIL from homebuyers (as per claims admitted by the NCLT), substantial amounts were diverted for non-construction purposes and siphoned off to related group entities and trusts. These entities include Jaypee Sewa Sansthan (JSS), M/s Jaypee Healthcare Ltd. (JHL), and M/s Jaypee Sports International Ltd. (JSIL). The investigation also revealed that Manoj Gaur is the Managing Trustee of Jaypee Sewa Sansthan (JSS), which received a portion of the diverted funds.
Earlier, on May 23, 2025, the ED had conducted search operations at 15 locations in Delhi, Noida, Ghaziabad, and Mumbai, including the offices and premises of Jaiprakash Associates Ltd. and Jaypee Infratech Ltd. During the searches, the ED seized a large volume of financial and digital records, along with documents evidencing the offence of money laundering and the diversion of funds.
The investigation has established the central role of Manoj Gaur in the planning and execution of the fund diversion through a complex web of transactions within the Jaypee Group and its associated entities.
Further investigation into the matter is ongoing.
