In a sweeping move that signals intensified scrutiny over financial wrongdoing in the real estate sector, the Enforcement Directorate has launched a string of coordinated searches across Delhi, the wider National Capital Region, and Mumbai. The operation, which started early Friday, spans 15 locations and is tied to a staggering ₹12000 crore money laundering probe surrounding Jaypee Infratech, Jaypee Associates Limited, and several other major players.
This large-scale investigation is being carried out under the Prevention of Money Laundering Act of 2002. Authorities suspect that funds meant for homebuyers and investors were deliberately misused and rerouted, leaving thousands of hopeful families in distress and without the homes they paid for.
The list of entities under the scanner includes not just Jaypee Group companies, but also prominent real estate names such as Gaursons, Gulshan, Mahagun, and Suraksha Realty. Offices, assets, and properties linked to these firms were searched as officials dug deeper into the alleged misappropriation of massive sums.
Officials close to the case stated that the wrongdoing involves “the siphoning and diversion of funds meant for homebuyers and investors,” hinting at complex layers of financial mismanagement that potentially span years. The ED has noted that the misuse of public funds was on a huge scale, with serious consequences for thousands of ordinary individuals who had put their savings into these projects in hopes of owning a home.
So far, none of the companies involved have issued a statement or public comment regarding the raids or the allegations.
As the case unfolds, it is expected to uncover more hidden financial trails and deeper connections, which may not only affect those directly involved but also send ripples across the real estate industry.
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