Former Jaypee Infratech Managing Director Manoj Gaur has surrendered to the authorities at Tihar Jail following the recent rejection of his regular bail application by a Delhi court in connection with a money laundering case linked to alleged fraud against homebuyers, which is currently under investigation by the Enforcement Directorate (ED). According to officials, Gaur, who had previously obtained interim bail, turned himself in on Thursday and is now incarcerated at Tihar Jail.
On Friday, Jaiprakash Power Ventures Ltd issued a regulatory update indicating that Gaur, who serves as a non-executive director and chairman of the company, has “surrendered before judicial authorities upon the conclusion of his interim bail period”. On February 17, a Delhi court rejected Gaur’s plea for regular bail, highlighting that the accusations against him pertain to cheating and criminal breach of trust involving numerous individuals.
The court remarked that while countless homebuyers, who had invested their hard-earned savings in hopes of acquiring their dream homes, were left in distress, Gaur was reaping the benefits of illicit gains. The businessman was apprehended by the Enforcement Directorate (ED) on November 13, 2025, in relation to a case associated with a Rs 14,599-crore “fraud” involving homebuyers.
The federal agency has asserted that the funds raised from thousands of homebuyers for the purpose of constructing and completing residential projects were misappropriated for uses unrelated to construction, thereby defrauding the buyers and leaving their projects unfinished. The ED has alleged that two companies — Jaiprakash Associates Limited (JAL) and Jaypee Infratech Limited (JIL) — amassed over Rs 33,000 crore for the development of the residential projects Jaypee Wishtown and Jaypee Greens located in Noida and Greater Noida, respectively.
The money laundering case originates from the FIRs filed by the Delhi and Uttar Pradesh police, which acknowledged the complaints lodged by the homebuyers of the Jaypee Wishtown and Jaypee Greens projects.
The purchasers claimed that JIL, JAL, and their promoters, including Gaur, gathered funds from numerous investors intended for housing construction but subsequently “misappropriated” the funds, resulting in the homebuyers being defrauded and their projects remaining unfinished.
