Overview
- Manoj Gaur, former Jaypee Infratech MD and ex-Jaiprakash Associates chief, was arrested under the PMLA in a probe into alleged diversion of funds collected from homebuyers.
- ED told a Delhi court that JAL and JIL collected over ₹33,000 crore for housing projects and that around ₹13,000 crore was diverted, citing a broader finding that substantial sums from roughly ₹14,599 crore in admitted claims were siphoned to related entities and trusts.
- A Patiala House court ordered five days of ED custody after the agency sought seven, saying custodial interrogation was needed to confront documents and map fund flows.
- Earlier ED searches on May 23 at 15 locations linked to Jaypee entities recovered about ₹1.7 crore in cash and extensive financial and digital records now under forensic analysis.
- In a separate case, the ED searched 14 locations across Mumbai and Thane tied to former Lodha Developers director Rajendra Lodha over an alleged ~₹85 crore fraud, seizing documents on suspected undervalued land deals, unauthorised sales and TDR transactions; he was previously arrested by the Mumbai Police Crime Branch.