The Enforcement Directorate (ED) has arrested Manoj Gaur, Managing Director of Jaypee Infratech Ltd (JIL), in connection with a Rs 12,000-crore money laundering case, officials said on Thursday (November 13).

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The probe focuses on suspected diversion of funds from housing projects, leaving thousands of homebuyers, who had invested in the company’s real estate ventures but never received possession of their flats, affected.

Jaypee Infratech under ED scanner

According to officials, the case relates to alleged large-scale financial irregularities involving Jaypee Group subsidiaries Jaypee Infratech Ltd and Jaiprakash Associates Ltd (JAL), according to an India Today report.

Funds raised from homebuyers

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