NEW DELHI: The Enforcement Directorate (ED), Delhi Zonal Office, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, has provisionally attached immovable assets worth approximately ₹400 crore linked to M/s JP Infratech Limited (JIL), M/s Jayprakash Associates Limited (JAL), and their associated entities.
According to the ED, the action relates to the JP Vistown and JP Greens projects, where it is alleged that funds collected from thousands of homebuyers were misused for purposes other than construction activities.
The investigation was initiated on the basis of multiple FIRs filed with the Economic Offences Wing (EOW) of Delhi and Uttar Pradesh Police. The complaints named JIL, JAL, and their promoters/directors, including Manoj Gaur, alleging criminal conspiracy, fraud, and breach of trust.
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Authorities stated that these complaints were linked to residential projects where homebuyers were promised timely construction and legal possession. The investigation revealed that several projects remained incomplete, and funds were allegedly diverted, leaving investors to face significant financial losses and prolonged delays.
Details of Attached Assets and Funds
The probe indicates that JIL and JAL collected approximately ₹14,599 crore from more than 25,000 homebuyers. A substantial portion of this amount was allegedly diverted for purposes other than construction. It is reported that part of these funds was transferred to JP Seba Sansthan (JSS), M/s JP Healthcare Limited (JNL), and M/s Jeshy Sports International Ltd. (JSIL), among other affiliated companies.
The investigation also revealed that Manoj Gaur, who serves as trustee of JSS, received a portion of the misappropriated funds. Furthermore, he allegedly transferred properties of JIL and JAL to other entities, including M/s Page 3 Buildtech Private Limited.
Searches and Seizures
On 23 May 2025, the ED conducted searches at 15 locations in Bilbee, Noida, Ghaziabad, and Mumbai. The operations targeted the offices and properties of JIL and JAL. During the raids, the agency seized financial and digital records, along with documents evidencing money laundering and diversion of funds.
Manoj Gaur’s Role and Arrest
The investigation revealed Manoj Gaur’s central role in orchestrating the diversion of funds through complex transactions between JP Group entities and affiliated companies.
The ED stated that Gaur was arrested on 13 November 2025 under Section 19 of the PMLA, 2002. The arrest followed due legal procedure, and he is currently in judicial custody.
Investor Impact and Financial Consequences
The probe also showed that the funds invested by homebuyers were systematically and deliberately misused. Delays in construction and cancellations of allotments led to not only financial losses for investors but also mental stress and protracted legal disputes.
Next Steps in Investigation
The ED has clarified that the investigation is ongoing. The agency is now examining the flow of funds, affiliated entities, and beneficiaries in detail. Additional attachments and chargesheets may be filed if necessary.
