New Delhi, Feb 20 (PTI) Former Jaypee Infratech MD Manoj Gaur surrendered before Tihar Jail authorities after a Delhi court recently rejected his plea for a regular bail in an alleged homebuyers fraud-linked money laundering case being investigated by the ED.
Officials said Gaur, who had secured interim bail, surrendered Feb 19 and is now lodged in Tihar Jail.
Jaiprakash Power Ventures Ltd also filed a regulatory update on Feb 20 stating that Gaur, a non-executive director and chairman of the company, has "surrendered before judicial authorities upon expiration of the term of his interim bail".
On February 17, a Delhi court dismissed Gaur's regular bail plea, emphasising that the allegations against him involved cheating and criminal breach of trust concerning numerous people.
The court said that while thousands of homebuyers, who had invested their hard-earned money in pursuit of their dream homes, kept running from pillar to post, Gaur was enjoying the proceeds of crime.
The businessman was arrested by the Enforcement Directorate (ED) on November 13, 2025, in a case linked to a ₹14,599-crore "fraud" with homebuyers.
The federal agency has alleged that funds collected from thousands of homebuyers for the construction and completion of residential projects were diverted for purposes other than construction, defrauding the buyers and leaving their projects incomplete.
{{/usCountry}}The federal agency has alleged that funds collected from thousands of homebuyers for the construction and completion of residential projects were diverted for purposes other than construction, defrauding the buyers and leaving their projects incomplete.
{{/usCountry}}The ED claimed that two companies -- Jaiprakash Associates Limited (JAL) and Jaypee Infratech Limited (JIL) -- collected more than ₹33,000 crore for constructing the residential projects Jaypee Wishtown and Jaypee Greens in Noida and Greater Noida, respectively.
The money laundering case stems from the FIRs of the Delhi and Uttar Pradesh police, which took cognisance of the complaint filed by the homebuyers of Jaypee Wishtown and Jaypee Greens projects.
The buyers alleged that JIL, JAL and their promoters, including Gaur, collected funds from thousands of investors for the construction of houses but "diverted" the money, leaving the homebuyers defrauded and their projects incomplete.