Enforcement Directorate (ED) has attached properties worth approximately ₹100 crore linked to entities associated with Jaypee Infratech Limited (JIL). The action is part of an ongoing money laundering investigation into the alleged diversion of funds collected from thousands of homebuyers in the Jaypee Wish Town project along the Noida Expressway.
According to the ED, JIL and its parent entity, Jayprakash Associates Limited (JAL), collected nearly ₹32,825 crore from homebuyers for residential projects. Investigators allege that a substantial portion of these funds was diverted for purposes unrelated to construction, resulting in delayed and incomplete housing projects that have affected thousands of buyers.
The agency has attached assets belonging to two companies—JC World Hospitality Private Limited and Investors Clinic Infratech Private Limited. The properties attached are estimated to have market values of ₹40 crore and ₹60 crore respectively. The ED claims that these assets represent proceeds of crime generated through the alleged laundering of homebuyers’ funds.
At the center of the investigation is Manoj Gaur, former Managing Director of both JIL and JAL. The agency alleges that Gaur played a key role in planning and executing the diversion of funds through a network of related entities and transactions. He was arrested by the ED in November 2025 and remains in judicial custody after courts rejected his bail applications.
The investigation has also expanded to include Suraksha Realty Limited, which acquired JIL through the insolvency resolution process approved by the National Company Law Tribunal (NCLT). The ED is examining allegations that Suraksha Realty and its partner, Lakshdeep Investments, were involved in siphoning assets linked to the stalled Wish Town development. These allegations stem from a separate case registered by the Economic Offences Wing of the Delhi Police.
The Jaypee Wish Town project, spread across more than 1,160 acres along the Noida Expressway, has become one of India’s most prominent examples of delayed housing projects. More than 17,000 apartments reportedly remain incomplete after years of delays, leaving homebuyers waiting for possession of their homes.
The ED has stated that the funds collected from buyers were intended exclusively for project construction and completion. Instead, investigators allege that money was routed through various entities within and outside the Jaypee Group, depriving projects of the capital required for timely execution.
With a prosecution complaint already filed against Manoj Gaur and additional investigations underway, the case continues to be closely watched by homebuyers, regulators, and the real estate industry. The outcome could have significant implications for accountability, insolvency proceedings, and financial governance within India’s real estate sector.
Image source- enforcementdirectorate.gov.in
