The Enforcement Directorate (ED) has provisionally attached immovable properties worth approximately ₹400 crore belonging to Jaiprakash Sewa Sanstha (JSS) and Page 3 Buildtech Private Limited, as part of its ongoing investigation into alleged large-scale fraud and fund diversion by the Jaypee Group.
The attachment, announced in a press release dated January 7, targets entities linked to Jaypee promoters in a case involving misappropriation of funds collected from homebuyers for the delayed Jaypee Wishtown and Jaypee Greens projects in Noida.
The ED’s Delhi Zonal Office initiated the probe based on multiple FIRs filed by the Economic Offences Wing (EOW) of Delhi and Uttar Pradesh Police. These complaints, lodged by affected homebuyers, accuse Jaypee Infratech Ltd (JIL), Jayprakash Associates Ltd (JAL), and their promoters—including Manoj Gaur—of criminal conspiracy, cheating, and breach of trust.
Investigation findings reveal that JAL and JIL collected around ₹14,599 crore from over 25,000 homebuyers (as per claims admitted by the NCLT). However, substantial portions were allegedly diverted for non-construction purposes and siphoned off to related entities, including Jaypee Sewa Sansthan (JSS), Jaypee Healthcare Ltd (JHL), and Jaypee Sports International Ltd (JSIL).
Manoj Gaur, the Managing Trustee of JSS, is accused of playing a central role in orchestrating the diversions through a complex web of transactions. Assets were also allegedly transferred to Page 3 Buildtech Private Limited, controlled by Honey Katiyal.
The probe intensified with ED searches on May 23, 2025, at 15 locations in Delhi, Noida, Ghaziabad, and Mumbai, yielding incriminating financial records and documents. Manoj Gaur was arrested on November 13, 2025, under Section 19 of the Prevention of Money Laundering Act (PMLA) and remains in judicial custody.
Thousands of homebuyers have been left stranded with incomplete projects for years, highlighting broader issues in the real estate sector.
The ED stated that further investigation is underway. This action comes amid prolonged insolvency proceedings against Jaypee Infratech, which was acquired by Suraksha Group in 2021 to resolve the crisis affecting homebuyers.
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