Directorate of Enforcement (ED), Delhi Zonal Office has conducted search operations on 23/05/2025 at multiple locations across Delhi, Noida, Ghaziabad, and Mumbai in connection with the investigation involving M/s. Jaypee Infratech Ltd (JIL), M/s. Jayprakash Associates Ltd (JAL), and associated entities
FinTech BizNews Service
Mumbai, May 25, 2025: Directorate of Enforcement (ED), Delhi Zonal Office has conducted search operations on 23/05/2025 at multiple locations across Delhi, Noida, Ghaziabad, and Mumbai in connection with the investigation involving M/s. Jaypee Infratech Ltd (JIL), M/s. Jayprakash Associates Ltd (JAL), and associated entities under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as per a press release issued by the ED today.
The search covered offices/ premises of M/s. JAL, its related entities and its promoters/ directors. Further, searches were conducted at the offices and premises related to key business associates of M/s. JAL, including M/s.Gaursons India Pvt Ltd, M/s. Gulshan Homz Pvt Ltd, and M/s.Mahagun Real Estate Pvt Ltd. ED initiated investigation on the basis of FIRs registered by the Economic Offences Wing (EOW) of Delhi and Uttar Pradesh Police against M/s. JAL, M/s. JIL, and their promoters/Directors under various sections of the IPC, 1860.
The FIRs allege large-scale fraud and criminal conspiracy, including dishonest inducement of homebuyers and investors to invest funds under the pretext of allotment of residential apartments and plots in projects such as Jaypee Wishtown (JIL) and Jaypee Greens (JAL).
During the search operations conducted at 15 premises across Delhi-NCR and Mumbai, financial documents and data/ digital devices along with documents relating to immovable properties held in the names of promoters, their family members and the group companies and cash amounting to Rs. 1.70 Crore were seized. Further investigation is under progress.
