Jaypee Infratech Promoter Sent to 14-Day Judicial Custody in ₹14,599-Crore Money Laundering Case
Ex-Jaypee MD remanded to 14-day custody in massive cheating case.
A special Delhi court on Tuesday remanded Manoj Gaur, former Managing Director and one of the main promoters of the crisis-hit Jaypee Infratech Limited, to 14-day judicial custody in a high-profile money laundering investigation involving an alleged ₹14,599 crore fraud against thousands of homebuyers who are still awaiting possession of their flats.
Gaur was arrested by the Enforcement Directorate on November 13 after prolonged questioning at the agency’s headquarters. Having spent six days in ED custody, he was produced before the PMLA court, where the investigating agency successfully argued that while further police-style interrogation was complete, judicial custody was required to safeguard evidence and prevent any attempt to influence witnesses.
At the heart of the case lies the ED’s charge that more than ₹33,000 crore collected from over 30,000 homebuyers for the iconic Jaypee Wishtown township in Noida and Jaypee Greens in Greater Noida was systematically diverted to unrelated companies and purposes instead of being deployed for construction and project completion. Vast portions of both mega-townships continue to lie unfinished more than ten years after bookings began, turning the projects into a symbol of corporate mismanagement.
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The probe originated from a series of FIRs registered by affected homebuyers with the Economic Offences Wings of Delhi and Uttar Pradesh Police, who accused the Jaypee Promoters and Directors of criminal conspiracy, cheating, and criminal breach of trust under the Indian Penal Code. The ED subsequently attached assets and carried out coordinated searches at 15 premises across Delhi-NCR and Mumbai on May 23, unearthing vital financial records.
With Manoj Gaur now lodged in Tihar Jail and the investigation gathering pace, intense scrutiny has shifted to other family members and Senior Executives of the Jaypee group as authorities move closer to unraveling one of the country’s largest recorded real estate frauds.
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