The Enforcement Directorate on Friday carried out searches at multiple locations in the national capital region of Delhi and Mumbai to probe money laundering charges against Jaypee Infratech, Jaypee Associates and other linked entities in a ₹12,000-crore investment fraud.
The searches are being conducted under the Prevention of Money Laundering Act at 15 premises in Delhi NCR and Mumbai of Jaypee Associates, other entities Gaursons, Gulshan, Mahagun and Suraksha Reality, said ED sources.
The agency sources accused the real estate firm of indulging in “fraud with home buyers and investors of around ₹12,000 crore and siphoning/diversion of funds.”
The company is yet to offer any reaction to the latest ED action against them.
People have been complaining against Jaypee for not delivering their houses. A dozen unfinished projects of the firms are languishing for years near the Yamuna expressway in Greater Noida, prompting the Yamuna Expressway Industrial Development Authority to take them over so that buyers can get back their homes after ages.
Published on May 23, 2025