Latest news with #JaypeeInfratech
Time of India
23-05-2025
- Business
- Time of India
ED raids against Jaypee Infratech, others in ₹12,000 crore fraud case
NEW DELHI: The Enforcement Directorate on Friday conducted multiple searches as part of a money laundering probe against Jaypee Infratech , Jaiprakash Associates and some others in a Rs 12,000 crore worth homebuyers "fraud" case, official sources said. The raids are being carried out in Delhi-NCR and Mumbai under the provisions of the Prevention of Money Laundering Act ( PMLA ), they said. The searches are related to Jaypee Infratech, Jaiprakash Associates Limited and others for alleged fraud with homebuyers and investors of around Rs 12,000 crore and linked "diversion" of funds, the sources said. Jaiprakash Associates Ltd, currently facing insolvency proceedings, is into cement, construction, real estate, power and hospitality business among others. Some other real estate companies like Gaursons, Gulshan, Mahagun and Suraksha Realty were also being covered as part of this case, the sources said. Suraksha Realty has acquired Jaypee Infratech Ltd through insolvency to complete stalled housing projects in NCR comprising around 20,000 flats. Some documents and computer devices have been recovered from the searched locations, they said. There was no immediate response from the companies concerned.
Indian Express
23-05-2025
- Business
- Indian Express
ED conducts raids in Rs 12,000 crore Jaypee Infratech fraud case
The Enforcement Directorate on Friday conducted searches at multiple locations as part of a money laundering probe against Jaypee Infratech, Jaypee Associates and some others in a Rs 12,000 crore investment fraud case, official sources said. The raids are being carried out in Delhi-NCR and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), they said. There was no immediate response from the companies concerned.
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Business Standard
23-05-2025
- Business
- Business Standard
ED conducts raids on Jaypee Infratech, others in ₹12,000 cr fraud
The raids are being carried out in Delhi-NCR and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), they said Press Trust of India New Delhi The Enforcement Directorate on Friday conducted searches at multiple locations as part of a money laundering probe against Jaypee Infratech, Jaypee Associates and some others in a Rs 12,000 crore investment fraud case, official sources said. The raids are being carried out in Delhi-NCR and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), they said. The searches are in the case related to Jaypee Infratech, Jaypee Associates Limited and others for alleged fraud with homebuyers and investors of around Rs 12,000 crore and linked "diversion" of funds, they said. Asociated entities of the group like Gaursons, Gulshan, Mahagun and Suraksha Reality are also being covered, the sources said. There was no immediate response from the companies concerned. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hindustan Times
23-05-2025
- Business
- Hindustan Times
ED raids against Jaypee Infratech, others in ₹12,000-cr fraud case
New Delhi, May 23 (PTI) The Enforcement Directorate on May 23 conducted searches at multiple locations as part of a money laundering probe against Jaypee Infratech, Jaypee Associates and some others in a ₹12,000 crore investment fraud case, official sources said. The raids are being carried out in Delhi-NCR and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), they said. The searches are in the case related to Jaypee Infratech, Jaypee Associates Limited and others for alleged fraud with homebuyers and investors of around ₹12,000 crore and linked "diversion" of funds, they said. Asociated entities of the group like Gaursons, Gulshan, Mahagun and Suraksha Reality are also being covered, the sources said. There was no immediate response from the companies concerned.
Mint
23-05-2025
- Business
- Mint
₹12,000-crore Jaypee Infratech fraud case: ED conducts searches at 15 locations in Delhi-NCR, Mumbai
The Enforcement Directorate (ED) conducting searches on Friday in connection with ₹ 12,000-crore fraud case allegedly involving Jaypee Infratech, Jaypee Associates Limited and others. They are being probed under the Prevention of Money Laundering Act, 2002 (PMLA) over alleged fraud with homebuyers and investors and siphoning/diversion of funds. Accoridng to news agency ANI, the search was conducted at 15 premises located in Delhi-NCR and Mumbai which include Jaypee Associates and its associated entities, Gaursons, Gulshan, Mahagun and Suraksha Realty.
