The Enforcement Directorate’s Delhi Zonal Office has provisionally attached immovable assets worth around Rs 400 crore under the Prevention of Money Laundering Act. The assets are linked to Jaiprakash Sewa Sanstha and Page 3 Buildtech Private Limited, part of an investigation into alleged fraud by Jaypee Group entities.
The probe, triggered by FIRs filed by the Economic Offences Wings of Delhi and Uttar Pradesh Police, accuses Jaypee Infratech Ltd and Jaiprakash Associates Ltd of diverting funds meant for housing projects. Funds collected from over 25,000 homebuyers were allegedly misused, leaving projects incomplete and buyers deceived.
Investigators discovered that a significant portion of the collected funds, totaling Rs 14,599 crore, was diverted to entities like Jaypee Sewa Sansthan and Jaypee Healthcare Ltd. The ED also found assets diverted to Page 3 Buildtech Private Limited, allegedly under the control of Honey Katiyal. The probe led to the arrest of Manoj Gaur for his alleged involvement in the fund diversion scheme.
