ED (Image source: ANI)
NEW DELHI: Attaching Rs 100 crore worth of assets of two real estate entities linked to Jaypee Infratech Ltd (JIL), the ED on Tuesday accused JIL and its promoters of laundering part of Rs 33,000 crore of homebuyers money collected for construction of flats in Jaypee Wish Town, spread across 1,162 acres in Nodia along the Noida Expressway.“Investigation revealed that out of Rs 32,825 crore collected by JAL (Jayprakash Associates Ltd) and JIL from homebuyers (as per claims admitted by NCLT), substantial amounts were diverted for non-construction purposes and siphoned off to related entities, including JC World Hospitality Pvt Ltd. Proceeds of crime in the form of land have been parked in Investors Clinic Infratech Pvt Ltd,” the ED said.The central agency has attached properties of the two entities — JC World Hospitality Pvt Ltd and Investors Clinic Infratech Pvt Ltd — having market value of Rs 40 crore and Rs 60 crore respectively in its ongoing money laundering probe against JIL and JAL and associated entities.The ED is also probing JIL’s new developer Suraksha Realty Ltd, the firm that had won JIL through insolvency bidding process before NCLT. The agency registered an investigation against Suraksha and its partner Lakshdeep Investments under PMLA based on an FIR registered by the economic offences wing of the Delhi Police in an alleged fraud in siphoning off assets of Wish Town.The probe revealed that Suraksha, instead of completing the constructions of more than 17,000 flats stalled for over 15 years, had indulged in siphoning off the assets of JIL in connivance with the former promoter of Wish Town, Manoj Gaur. The latter was arrested in Nov last year by the ED and is presently in judicial custody, with courts rejecting his bail applications.“The funds collected from thousands of homebuyers for construction and completion of residential projects were diverted for purposes other than construction, leaving the homebuyers defrauded and their projects incomplete,” ED said.The agency further claimed that Manoj Gaur, MD of JIL and JAL, played a central role in planning, execution and diversion of funds through a complex web of transactions, involving various entities of the Jaypee Group and its associated companies. Accordingly, Gaur was arrested on Nov 13, 2025.The present attachment order was issued on Sunday. A prosecution complaint (chargesheet) has also been filed in the case on Jan 8, arraigning Manoj Gaur as an accused.
