New Delhi, Feb 20 (PTI) Manoj Gaur, former managing director of Jaypee Infratech, surrendered before the Tihar Jail authorities after a Delhi court recently rejected his plea for regular bail in an alleged money laundering case linked to home buyer scam which is being investigated by the ED.
Gaur, who was granted interim bail, surrendered on February 19 and is now being detained in Tihar jail, officials said.
Jaiprakash Power Ventures Ltd also filed a regulatory update on February 20 stating that Gaur, a non-executive director and chairman of the company, “has surrendered before the judicial authorities on expiry of the interim bail period”.
On February 17, a Delhi court rejected Gaur’s usual bail plea, holding that the allegations against him involved cheating and criminal breach of trust in relation to several persons.
While thousands of homebuyers, who had invested their hard-earned money in pursuit of their dream homes, kept running from pillar to post, Gore was enjoying the proceeds of crime, the court said.
The businessman was arrested by the Enforcement Directorate on November 13, 2025, in a case related to the… $Rs 14,599 Crore ‘Fraud’ with Home Buyers.
The federal agency alleged that funds collected from thousands of homebuyers to build and complete residential projects were diverted for purposes other than construction, defrauding buyers and leaving their projects unfinished.
The ED alleged that two companies – Jaiprakash Associates Limited (JAL) and Jaypee Infratech Limited (JIL) – raised more than $33,000 crore for construction of residential projects Jaypee Wishtown and Jaypee Greens in Noida and Greater Noida respectively.
The money laundering case stems from FIRs of the Delhi and Uttar Pradesh Police, which took cognizance of the complaint filed by homebuyers in the Jaypee Wishtown and Jaypee Greens projects.
The buyers alleged that JIL, JAL and their promoters, including Gaur, raised money from thousands of investors to build houses but “diverted” the money, resulting in homebuyers being defrauded and their projects not being completed.
