NEW DELHI: On Tuesday, a Delhi court ordered former Jaypee Infratech MD Manoj Gaur, who is facing charges in a money laundering case, to be held in judicial custody for 14 days.
Previously, on November 13, he had been taken into custody by the Enforcement Directorate (ED) for five days.
After completing his interrogation, Gaur appeared before a sessions court, which granted the ED’s request to extend his custody.
The ED arrested Gaur amid an investigation into a ₹14,599 crore fraud involving homebuyers.
According to the agency, funds raised from thousands of homebuyers for residential project construction were misappropriated, thereby defrauding buyers and leaving their housing projects incomplete.
The ED claims that two companies, Jaiprakash Associates Ltd (JAL) and Jaypee Infratech Ltd (JIL), amassed over ₹33,000 crore intended for projects such as Jaypee Wishtown and Jaypee Greens, located in Noida and Greater Noida, respectively.
An investigation was initiated against the Jaypee Group prompted by several FIRs submitted by the Economic Offences Wing (EOW) of Delhi and Uttar Pradesh police. These complaints were lodged by aggrieved homebuyers of the Jaypee Wishtown and Jaypee Greens, citing allegations of criminal conspiracy, cheating, and breach of trust against the firm and its leaders.
On May 23, the agency carried out searches at 15 locations across Delhi, Noida, Ghaziabad, and Mumbai, including the offices of JAL and JIL.
