ED Files ₹13,883 Cr Money Laundering Case Against Jaypee Ex-CMD

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Overview

The Enforcement Directorate has filed a prosecution complaint against Manoj Gaur, former CMD of Jaypee Infratech, in a ₹13,883 crore money laundering case. The complaint alleges funds were accumulated from home buyers and laundered. Gaur's bail hearing is set for January 17, with his defense citing his age and medical history.

ED Action Against Jaypee Ex-CMD

The Enforcement Directorate (ED) has filed a prosecution complaint against Manoj Gaur, former Chairman and Managing Director of Jaypee Infratech Ltd, in the Patiala House Court. This legal action concerns a money laundering case involving an alleged ₹13,883 crore in proceeds of crime. The complaint will now be assigned to a judge for cognizance.

Bail Plea and Legal Arguments

An Additional Sessions Judge has scheduled the main PMLA case and Manoj Gaur's bail plea for hearing on January 17. Gaur's legal team argues that his continued incarceration, at 61 years old and with a significant medical history, amounts to punishment before conviction. They contend this violates the fundamental principle that bail is the rule and jail is the exception, particularly in cases with prolonged investigations.

Investigation Details

Gaur was arrested by the agency in a case registered in 2018 and subsequently arrested on November 13 last year, then sent to judicial custody. The ED alleges that Gaur and other accused individuals laundered funds totaling ₹13,000 crore, accumulated from home buyers promised accommodations. The investigation commenced based on multiple FIRs filed by the Economic Offences Wings of Delhi and Uttar Pradesh Police, following complaints from homebuyers of Jaypee Wishtown and Jaypee Greens projects.

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