NEW DELHI: The Enforcement Directorate (ED) has attached immovable assets worth approximately Rs 400 crore as part of its ongoing money laundering investigation into the Jaypee Group, the agency said on Tuesday.
The attached properties belong to Jaiprakash Sewa Sanstha and Page 3 Buildtech Private Limited. These properties have been seized under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The action is linked to an alleged large-scale diversion of funds collected from homebuyers of Jaypee Wishtown and Jaypee Greens projects.
The federal investigation agency initiated probe against Jaypee group on the basis of multiple FIRs registered by the Economic Offences Wings (EOW) of Delhi and Uttar Pradesh Police, based on complaints filed by homebuyers of Jaypee Wishtown and Jaypee Greens projects, alleging criminal conspiracy, cheating, and criminal breach of trust against the JIL and JAL and their promoters and directors including Manoj Gaur.
“It has been alleged that the funds collected from thousands of homebuyers for construction and completion of residential projects were diverted for purposes other than construction, leaving the homebuyers defrauded and their projects incomplete,” the agency official said.
ED investigation revealed that out of approximately Rs 14,599 crore collected by JAL and JIL from more than 25000 homebuyers (as per claims admitted by NCLT), substantial amounts were diverted for non- construction purposes and siphoned off to related group entities including Jaypee Sewa Sansthan (JSS), Jaypee Healthcare Ltd. (JHL), and Jaypee Sports International Ltd. (JSIL).
It has also been revealed during the investigation that Manoj Gaur is the Managing Trustee of Jaypee Sewa Sansthan (JSS), which received part of the diverted funds.
Further, investigation has also established diversion of assets of JIL and JAL by Manoj Gaur to other entities including Page 3 Buildtech Private Limited, which is controlled and beneficially owned by Honey Katiyal.
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, ED seized a large volume of financial and digital records, along with documents evidencing the offence of money laundering and 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,” the agency said.
Manoj Gaur was arrested on November 13, 2025 under Section 19 of the PMLA, 2002, after following due legal procedure. He is presently in Judicial Custody.
“Further investigation is under progress,” the agency added.