ED Files Chargesheet Against Former Jaypee Infratech MD Manoj Gaur in ₹14,599 Crore Homebuyer Fraud Case

On Monday, the Enforcement Directorate has filed an indictment, which is equivalent to the chargesheet, against former Jaypee Infratech MD Manoj Gaur. The ED had earlier arrested Manoj Gaur on November 13 last year in a case of cheating homebuyers to the tune of Rs 14,599 crores. He is currently in judicial custody.

The complaint of the indictment of the agency was presented before the Principal District and Sessions Judge Anju Bajaj Chandana. However, the Sessions Court has scheduled January 17th for the hearing of the bail application of Gaur.

The main government authority has accused the collected money from thousands of buyers who were constructing homes of being misused for activities that were not connected with the construction process, thus cheating the buyers, who are left with uncompleted projects. It claimed that two companies, Jaiprakash Associates Limited (JAL) and Jaypee Infratech Limited (JIL), collected over ₹33,000 crore for the construction of residential projects – Jaypee Wishtown and Jaypee Greens – in Noida and Greater Noida, respectively.

The ED initiated the investigation against the Jaypee Group based on several FIRs registered by the Economic Offences Wings (EOW) of the Delhi and Uttar Pradesh police. These FIRs are based on complaints filed by homebuyers of the Jaypee Wishtown and Jaypee Greens projects. They allege criminal conspiracy, cheating, and criminal breach of trust against the company and its promoters.