Tag: Jaypee Infratech

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Ex-Jaypee Infratech MD Surrenders at Tihar Jail, Delhi

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…

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Delhi court denies bail to ex-Jaypee Infratech MD in case

NEW DELHI: A Delhi court has rejected former Jaypee Infratech managing director Manoj Gaur’s bail application in a money-laundering case, emphasizing that the allegations involve cheating and criminal breach of trust affecting many individuals. The court remarked that while numerous homebuyers sought justice after investing their life savings in their desired homes, Gaur was benefitting from the alleged proceeds of crime. Additional Sessions Judge Dhirendra Rana examined Gaur’s plea, noting that Gaur was arrested by the Enforcement Directorate (ED) on November 13, 2022, in relation to a ₹14,599-crore fraud involving homebuyers. The ED alleges that the money collected from homebuyers…

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NCLT Forms Committee to Address Jaypee Infratech Complaints

NEW DELHI: The National Company Law Tribunal (NCLT) in Delhi has mandated the establishment of an independent expert committee to address the complaints of allottees involved in Jaypee Infratech projects, now under Suraksha Realty’s development. This ruling was issued on February 12, 2026. In a submission by advocates Ashwarya Sinha and Aditya Malhotra representing homebuyers, concerns were raised about excessive delays, unclear construction schedules, and unfair financial demands on buyers. The approved resolution plan included an independent monitoring committee (IMC), which was subsequently disbanded in May 2024 without notifying stakeholders. Following a review of all arguments, the court decreed that…

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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,…

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Suraksha Group finishes 5,989 units in 63 towers

NEW DELHI: Suraksha Group, which took over Jaypee Infratech (JIL) in 2024, has successfully finished construction on 5,989 units across various projects in JIL Wish Town. The company has received occupancy certificates (OCs) for 31 towers, totaling 3,135 units. Suraksha Group has also applied for OCs for an additional 32 towers across several projects, including Kosmos, Klassic, Kensington Boulevard Apartments, Kensington Park Apartments, Kensington Park Heights, and Pebble Court, which collectively comprise 2,854 units. Jash Panchamia, Executive Director of Jaypee Infratech Limited, stated, “We are committed to adhering to the timeline specified in our resolution plan. Our efforts are reflected…

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Delhi Court Grants 14-Day Judicial Custody to Ex-Jaypee MD

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…

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ED Detains Former Jaypee Infratech MD in ₹14,599 Crore Case

NEW DELHI: The Enforcement Directorate has arrested Manoj Gaur, former Managing Director of Jaypee Infratech Ltd., in connection with a money laundering investigation involving an alleged Rs 14,599 crore fraud against home buyers, according to official sources. The businessman was apprehended under the Prevention of Money Laundering Act (PMLA). The agency claims that funds gathered from home buyers were misappropriated to various trusts, resulting in unfinished projects and defrauded investors. The ED’s investigation revealed that Gaur serves as the Managing Trustee of Jaypee Sewa Sansthan (JSS), which benefitted from these diverted funds. The case against him relates to the alleged…

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SC Sets Dec 5 Deadline for Jaypee Infratech Claims

NOIDA: The Supreme Court has given Jaypee Infratech homebuyers a deadline of December 5 to either request refunds or apply for flat allotments. This directive was issued on November 3 by Justices Sanjay Kumar and Alok Aradhe, instructing all outstanding claimants to reach out to Suraksha Realty Limited, the current overseer of the delayed Jaypee projects, with no additional extensions expected. The court also mandated Suraksha Realty to make a public announcement regarding this cut-off date, which it did by Thursday. “Many homebuyers are still presenting claims for refunds or flats. Suraksha Realty Limited is prepared to accept refund claims…

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HC Orders Noida to Provide Water to Wish Town Flats in 2 Weeks

Here’s a rewritten version of the provided content: — NOIDA: The Allahabad High Court has mandated the Noida Authority to grant water connections to Wish Town within two weeks, contingent upon Jaypee Infratech Limited (JIL) providing a renewable bank guarantee of Rs 60 crore. This ruling, issued on Thursday by a division bench consisting of Justices Shekhar B Saraf and Praveen Kumar Giri, also imposed a stay on recovering Rs 23 crore in disputed charges until the next hearing. The bench was addressing a writ petition from JIL that contested the Authority’s demand for external development charges linked to the…

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Lenders Deny Jaypee Infratech’s Bid to Acquire Bankrupt Firm

NEW DELHI: Creditors of Jaiprakash Associates Ltd (JAL) have declined Jaypee Infratech’s bid to accept its resolution plan for the acquisition of the financially troubled company. Five firms—Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power, and PNC Infratech—have put forth their plans for JAL’s acquisition. On June 25, JAL’s lenders rejected Jaypee Infratech’s resolution plan from Suraksha Group, citing its late submission and lack of earnest money. Sources indicate that Jaypee Infratech has requested the Committee of Creditors (CoC) of JAL to reconsider their decision and allow participation in the insolvency process. During a meeting on July 1, CoC…