New Delhi [India], November 13 (ANI): The Patiala home courtroom on Thursday granted 5 days of custody of Manoj Gaur to the ED in an alleged cash laundering case. He is a former CMD of JayPee Infratech Ltd. He has been arrested within the alleged cash laundering case
Additional Sessions Judge (ASJ) Dhirendra Rana granted 5 days custody after listening to the submissions on the remand utility.
ED produced Manoj Gaur earlier than the Patiala House Court and sought 7 days’ custody of Manoj Gaur to interrogate him.
ED’s Counsel Atul Tripathi submitted that it’s an alleged cash laundering case associated to the cash of Home Buyers. Accused individuals collected Rs 13000 crores however didn’t use the identical to present lodging to residence patrons.
He additionally submitted that the bottom of arrest has been equipped to the accused.
Counsels for the accused opposed the remand sought by the ED. It was submitted that the ECIR was lodged in 2018. The arrest has been made after nearly seven years.
Senior advocate Anupam Lal Das opposed the remand utility and submitted that there is no such thing as a offence dedicated by the accused. There was a restraint on building by the NGT; subsequently, building couldn’t happen. JayPee Associates Ltd. has gone into insolvency.
It is alleged that he’s not cooperating, and will settle for the allegations, the Counsel questioned. He has been summoned a number of occasions, the Senior advocate questioned.
Advocate Dr. Farrukh Khan additionally appeared for accused Manoj Gaur. He mentioned that the ECIR is from 2018. ‘What stopped ED from 2018 to 2025? Now, Gaur has been illegally arrested,’ he mentioned.
The floor of arrest needs to be equipped to the accused. There is nothing talked about within the floor. ED has not complied with the process within the spirit of regulation.
He is asthmatic, diabetic, and 61 years previous, going through the hazard of excessive AQI, Dr. Farrukh submitted.
The counsel additional submitted that the accused appeared earlier than the ED and cooperated within the investigation. He additionally despatched an e-mail to the IO and requested one other date to seem.
He was known as and was made to take a seat until 8 in evening, the counsel added. JayPee Infratech ltd. (JIL) went into insolvency in 2017, and the movement was handed.
It was additionally submitted that there is no such thing as a evasion on the a part of Manoj Gaur. ‘He is a sick man. When an organization is dissolved, why ought to the person be despatched in custody?’ counsel questioned.
Senior advocate Siddharth Luthra additionally appeared for Manoj Gaur. He submitted that what has occurred after 7 years, the reason is just not coming from ED.
‘First FIR was lodged in 2017, and thereafter. My assertion has been recorded, We are within the 12 months 2025 finish,’ Senior advocate Luthra argued.
He additional argued that the grounds of arrest is significant if they’re able to point out the aim of arrest. It is just not a case of custody remand, kindly think about the discharge of the accused, he added.
The Court requested the ED, ‘He has joined the investigation. What do it’s a must to ask now?
ED’s counsel Tripathi submitted that there are various paperwork. He has submitted 10 thousand paperwork. Not offering extra paperwork.
We are investigating the matter earlier than the businesses approached the NCLT. The offences are previous to that, Tripathi mentioned. Being the important thing particular person in all firms concerned, the counsel.
We have the suitable to finish the investigation. We are searching for 7 days’ custody solely. We should go ahead, Counsel for ED mentioned.
It is just not solely JAL and JIL. We wish to know the place the funds have been diverted, to know the position of different individuals concerned, the position of different entities, the ED mentioned.
Dr. Farrukh opposed the submissions and submitted that it isn’t a homicide case the place Identification of the weapon is required.
ED mentioned that it has arrested Manoj Gaur, former Executive Chairman and Chief Executive Officer of M/s Jaiprakash Associates Ltd. (JAL) and former Chairman and Managing Director of M/s Jaypee Infratech Ltd. (JIL), beneath Section 19 of the Prevention of Money Laundering Act (PMLA), 2002.
The arrest happened following an in depth investigation and evaluation of proof gathered through the ongoing probe in an ECIR recorded by the ED beneath PMLA in reference to the Jaypee Group, the company mentioned in a launch.
It can also be mentioned that the ED initiated the investigation in opposition to the Jaypee group on the premise of a number of FIRs registered by the Economic Offences Wings (EOW) of Delhi and Uttar Pradesh Police, based mostly on complaints filed by homebuyers of Jaypee Wishtown and Jaypee Greens tasks, alleging legal conspiracy, dishonest, and legal breach of belief in opposition to the corporate and its promoters.
It has been alleged that the funds collected from hundreds of homebuyers for building and completion of residential tasks have been diverted for functions apart from building, leaving the homebuyers defrauded and their tasks incomplete, the company added.
ED investigation revealed that out of roughly Rs 14,599 Crore collected by JAL and JIL from homebuyers (as per claims admitted by NCLT), substantial quantities have been diverted for non-construction functions and siphoned off to associated group entities and trusts, together with Jaypee Sewa Sansthan (JSS), M/s Jaypee Healthcare Ltd. (JHL), and M/s Jaypee Sports International Ltd. (JSIL), the ED mentioned.
It has additionally been revealed through the investigation that Manoj Gaur is the Managing Trustee of Jaypee Sewa Sansthan (JSS), which acquired a part of the diverted funds, the Agency claimed.
Earlier, on 23 May 2025, the ED had carried out search operations at 15 places in Delhi, Noida, Ghaziabad, and Mumbai, together with the workplaces and premises of M/s Jaiprakash Associates Ltd. and M/s Jaypee Infratech Ltd. During the searches, ED seized a big quantity of monetary and digital data, together with paperwork evidencing the offence of cash laundering and diversion of funds, ED mentioned.
The company has alleged that the investigation has established the central position of Manoj Gaur within the planning and execution of the fund diversion by means of a fancy net of transactions inside the Jaypee Group and its related entities. (ANI)