ED Raids Jaypee Group Premises in Money Laundering Case, Seizes ₹1.7 Crore

The Directorate of Enforcement (ED), Delhi Zonal Office, has launched a probe into allegations involving Jaypee Infratech Ltd (JIL) and Jaiprakash Associates Ltd (JAL). The investigation is being carried out under the Prevention of Money Laundering Act and stems from multiple FIRs lodged by the Economic Offences Wing of Delhi Police and the Uttar Pradesh Police. These FIRs cite complaints from homebuyers and investors against the company and its promoters.

Locations Searched Across Major Cities

The ED conducted search operations on Friday across multiple premises in Delhi, Noida, Ghaziabad, and Mumbai. The targeted locations included offices and properties linked to JAL, its related entities, and its promoters. In addition, searches extended to business associates of the group, including Gaursons India Pvt Ltd, Gulshan Homz Pvt Ltd, and Mahagun Real Estate Pvt Ltd.

Items and Evidence Seized

According to the ED’s official statement, the operation led to the seizure of ₹1.70 crore in cash. Apart from currency, officials also recovered financial documents, digital devices, and records of immovable properties. These were found in the names of the promoters and associated companies within the Jaypee Group.

Allegations of Fraud and Criminal Conspiracy

The complaints and FIRs allege that JAL and JIL, along with their promoters and directors, were involved in inducing homebuyers and investors through false promises. Funds were allegedly collected for residential projects such as Jaypee Wishtown and Jaypee Greens under the pretext of assured delivery and returns. The FIRs cite large-scale fraud and criminal conspiracy, painting a concerning picture for the affected stakeholders.

Read More: Jaiprakash Associates Insolvency: Final Bids Invited with June 9 Deadline. 

Conclusion

Jaiprakash Associates Ltd is currently undergoing insolvency proceedings. The company has had a broad operational footprint, with interests spanning cement, construction, real estate, power, and hospitality. The ongoing probe adds another layer of complexity to its already strained financial and legal situation.

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