Jaypee ‘fraud’ case: ED files final report against ex-MD Manoj Gaur

The Enforcement Directorate on Monday filed its prosecution complaint, equivalent to a chargesheet, against former Jaypee Infratech MD Manoj Gaur. The ED had arrested Gaur on November 13 last year in a case linked to a Rs 14,599 crore “fraud” with homebuyers. He is at present in judicial custody. The agency’s prosecution complaint was filed before Principal District and Session judge Anju Bajaj Chandna.

Meanwhile, a sessions court posted Gaur’s bail plea for hearing on January 17. The federal agency has alleged that the 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.

It claimed that two companies, Jaiprakash Associates Ltd (JAL) and Jaypee Infratech Ltd (JIL), collected over Rs 33,000 crore for the construction of residential projects — Jaypee Wishtown and Jaypee Greens — in Noida and Greater Noida, respectively.

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