NEW DELHI: The Enforcement Directorate (ED) has attached assets worth Rs 100 crore belonging to two real estate firms associated with Jaypee Infratech Ltd (JIL). The agency has accused JIL and its promoters of laundering part of the Rs 33,000 crore collected from homebuyers for the construction of flats in Jaypee Wish Town, which spans 1,162 acres in Noida along the Noida Expressway.
“The investigation revealed that out of Rs 32,825 crore collected by Jayprakash Associates Ltd (JAL) and JIL from homebuyers, substantial amounts were misappropriated for non-construction purposes and transferred to related companies, such as JC World Hospitality Pvt Ltd. Assets linked to these funds have been secured in Investors Clinic Infratech Pvt Ltd,” the ED stated.
The central agency has attached the properties of JC World Hospitality Pvt Ltd and Investors Clinic Infratech Pvt Ltd, valued at Rs 40 crore and Rs 60 crore respectively, in connection with its ongoing money laundering investigation against JIL, JAL, and their affiliates.
The ED is also investigating Suraksha Realty Ltd, JIL’s new developer that acquired the company through an insolvency bidding process overseen by the NCLT. The agency launched its inquiry against Suraksha and its partner, Lakshdeep Investments, based on an FIR filed by Delhi Police’s economic offences wing concerning allegations of asset misappropriation in Wish Town.
The investigation uncovered that Suraksha, instead of completing the construction of over 17,000 flats that have been stalled for more than 15 years, was involved in diverting JIL’s assets in collusion with former promoter Manoj Gaur. Gaur was arrested by the ED in November last year and is currently in judicial custody, with his bail applications denied.
“Funds collected from thousands of homebuyers for the construction and completion of residential projects were diverted for other purposes, defrauding the homebuyers and leaving their projects unfinished,” the ED asserted.
The agency also indicated that Manoj Gaur, Managing Director of JIL and JAL, played a pivotal role in orchestrating the diversion of funds through a complicated network of transactions involving various entities within the Jaypee Group. Consequently, Gaur was arrested on November 13, 2025.
The current asset attachment order was issued on Sunday, and a prosecution complaint has also been filed on January 8, naming Manoj Gaur as a defendant.
