NEW DELHI: Manoj Gaur, the former Managing Director of Jaypee Infratech, surrendered to the authorities at Tihar Jail following a Delhi court’s decision to deny his regular bail application in a money laundering case linked to alleged fraud against homebuyers, which is being investigated by the ED.
According to officials, Gaur, who had previously received interim bail, surrendered on Thursday and is now incarcerated in Tihar Jail.
Jaiprakash Power Ventures Ltd also announced on Friday that Gaur, who serves as a non-executive director and chairman of the company, has “surrendered before judicial authorities upon expiration of the term of his interim bail”.
The court dismissed Gaur’s regular bail request on February 17, underscoring the serious nature of the allegations, which include cheating and criminal breach of trust involving numerous individuals.
The court highlighted that, while many homebuyers were struggling to secure their investments in dream homes, Gaur was allegedly benefiting from the proceeds of illicit activities.
The businessman was arrested by the Enforcement Directorate on November 13, 2025, in connection with a significant “fraud” involving homebuyers, estimated at ₹14,599 crores.
The ED has accused Gaur and his companies of misappropriating funds that were meant for the construction and completion of residential projects, thereby defrauding buyers and leaving many projects unfinished.
According to the ED, Jaiprakash Associates Limited and Jaypee Infratech Limited collected over ₹33,000 crores for developing the Jaypee Wishtown and Jaypee Greens projects in Noida and Greater Noida.
This case of money laundering was initiated based on FIRs filed by the Delhi and Uttar Pradesh police, who took note of complaints made by the homebuyers affected by the Jaypee Wishtown and Jaypee Greens projects.
The buyers allege that JIL, JAL, and their promoters, including Gaur, collected substantial sums from investors for home construction but “diverted” the funds, defrauding the homebuyers and leaving projects incomplete.
