Tag: Jaypee fraud case

Latest StoriesRegulatory

ED Files Final Report on Ex-MD of Jaypee Infratech’s Fraud

NEW DELHI: On Monday, the Enforcement Directorate (ED) submitted its prosecution complaint, akin to a chargesheet, against former Jaypee Infratech MD, Manoj Gaur. Gaur was arrested on November 13 of the previous year due to a case involving a ₹14,599 crore fraud with homebuyers. He is currently in judicial custody. The complaint was filed with Principal District and Sessions Judge Anju Bajaj Chandna. Meanwhile, a sessions court has scheduled Gaur’s bail plea for a hearing on January 17. The ED has alleged that funds raised from thousands of homebuyers for the completion of residential projects were misused for non-construction purposes,…

Latest StoriesRegulatory

ED seizes ₹400 crore in assets linked to Jaypee Group fraud

NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday that it has attached assets worth ₹400 crore linked to a trust associated with former Jaypee Infratech MD Manoj Gaur, as well as with Honeyy Katiyal, the promoter of leading housing brokerage Investors Clinic. This action, under the Prevention of Money Laundering Act (PMLA), is part of an investigation into Jaypee group companies—Jaypee Infratech Ltd (JIL) and Jaiprakash Associates Ltd (JAL)—involving allegations of large-scale fraud and misappropriation of funds collected from homebuyers of the Jaypee Wishtown and Jaypee Greens projects in Noida. According to the ED, a provisional order has been…