- By Yashashvi Tak
- Thu, 13 Nov 2025 12:47 PM (IST)
- Source:JND
Manoj Gaur, Managing Director of real estate firm Jaypee Infratech Ltd, was arrested by the Enforcement Directorate (ED) on Thursday in connection with a money laundering case linked to alleged fraud involving homebuyers.
Officials said Gaur was taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
ED Raids In May At Jaypee Infratech Premises In Different Cities
Earlier in May, the ED conducted a series of raids at 15 premises associated with Jaypee Infratech Ltd., Jayprakash Associates Ltd., and several of their linked companies. The searches resulted in the seizure of approximately Rs 1.7 crore in cash, along with a trove of property papers, digital storage devices, and financial documents belonging to the promoters, their relatives, and related firms.
The operations were carried out across Delhi, Mumbai, Noida, and Ghaziabad as part of an ongoing money laundering probe under the Prevention of Money Laundering Act (PMLA), 2002.
Jaypee Infratech entered insolvency proceedings in August 2017 after the National Company Law Tribunal (NCLT) admitted a case filed by a consortium of lenders led by IDBI Bank. The real estate developer had initially promised delivery of 32,691 residential units in Noida. However, by the time insolvency began, only 4,889 units had been handed over, leaving 27,802 homes unfinished.
During the resolution process, 7,278 additional units were completed, but as of March 31, 2019, 20,524 homes were still pending. The most recent data indicates that around 20,097 flats, including 17,756 in the Jaypee Wishtown project, remain undelivered.
The Corporate Insolvency Resolution Process (CIRP) for Jaypee Infratech Ltd. thus continues to address significant delays and recovery challenges since its initiation in 2017.
