The Enforcement Directorate (ED) has provisionally attached immovable assets worth approximately ₹400 crore in connection with its ongoing investigation into alleged fund misappropriation by Jaypee Infratech Limited (JIL), Jayprakash Associates Limited (JAL) and related entities.
The attachment forms part of a money laundering probe linked to funds collected from thousands of homebuyers for the Jaypee Wishtown and Jaypee Greens real estate projects. According to the agency, the assets attached represent the current market value and include land parcels and other immovable properties associated with the Jaypee Group.
The ED’s action follows allegations that homebuyer funds raised for specific housing projects were diverted for purposes other than project completion, leading to prolonged delays and financial distress for buyers. The probe is being conducted under the Prevention of Money Laundering Act (PMLA), based on predicate offences registered by investigative agencies.
Jaypee Infratech, once among India’s largest real estate developers, has been at the centre of one of the country’s most high-profile homebuyer crises. Thousands of buyers have been waiting for possession of homes in the Jaypee Wishtown and Jaypee Greens projects for over a decade. The matter has seen extensive litigation, including proceedings before the Supreme Court, which has repeatedly emphasised protecting homebuyers’ interests.
The ED has alleged that complex financial transactions and inter-corporate transfers were used to siphon off funds raised from buyers, weakening the financial position of project-specific entities and stalling construction. The attached assets are expected to help secure proceeds allegedly linked to the offence and prevent their disposal during the course of the investigation.
The latest attachment adds to a series of enforcement actions taken against the Jaypee Group in recent years, as authorities continue to examine fund flows and accountability in large stalled real estate projects.
The case remains under investigation, and the attached assets are subject to confirmation by the adjudicating authority under the PMLA. The outcome is being closely watched by homebuyers, lenders and policymakers amid ongoing efforts to strengthen regulatory oversight and restore confidence in India’s real estate sector.
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