New Delhi: The Enforcement Directorate (ED) has provisionally attached immovable assets worth approximately ₹400 crore belonging to Jaiprakash Sewa Sansthan and Page 3 Buildtech Private Limited under the provisions of the Prevention of Money Laundering Act, 2002.
According to the ED, the attachment is part of an ongoing money laundering investigation against Jaiprakash Infratech Ltd (JIL), Jaiprakash Associates Ltd (JAL) and their associated entities. The probe relates to large-scale fraud and misappropriation of funds collected from homebuyers in the Jaypee Wishtown and Jaypee Greens housing projects.
The ED stated that its investigation was initiated based on multiple FIRs registered by the Economic Offences Wing (EOW) of the Delhi and Uttar Pradesh Police following complaints from thousands of homebuyers. The complaints alleged criminal conspiracy, cheating and breach of trust by JIL, JAL and their promoters and directors, including Manoj Gaur.
Investigators revealed that out of nearly ₹14,599 crore collected from over 25,000 homebuyers—as recorded in claims admitted by the NCLT—a substantial portion was diverted away from construction activities. Instead, the funds were allegedly siphoned off to related group entities such as Jaiprakash Sewa Sansthan (JSS), Jaypee Healthcare Ltd (JHL) and Jaypee Sports International Ltd (JSIL), leaving projects incomplete and buyers defrauded.
The ED further alleged that Manoj Gaur, Managing Trustee of JSS, personally received part of the diverted funds. The investigation also found that assets of JIL and JAL were routed to other entities, including Page 3 Buildtech Private Limited, which is allegedly beneficially owned and controlled by Honey Katyal.
Earlier, on 3 August 2025, the ED conducted search operations at 15 locations across Delhi, Noida, Ghaziabad and Mumbai, covering offices and premises linked to Jaypee Group companies. During the searches, a large volume of financial and digital records was seized, indicating money laundering and fund diversion, the agency said.
The probe has established the central role of Manoj Gaur in planning and executing the alleged diversion of funds through a complex network of inter-company transactions within the Jaypee Group, the ED claimed. Gaur was arrested on 13 November 2025 under Section 19 of the PMLA and is currently in judicial custody.
The ED said further investigation is ongoing.
