Court Reserves Decision on Manoj Gaur's Bail in Rs 13,000 Crore Money Laundering Case

The Patiala House Court has deferred its decision on the bail application of businessman Manoj Gaur, implicated in a Rs 13,000 crore money laundering case involving 25,000 homebuyers. Gaur, the former CMD of Jaypee Infratech Ltd, was arrested under allegations of fund diversion within the Jaypee Group.

In a high-profile legal battle, the Patiala House Court in Delhi has reserved its decision on the regular bail plea of businessman Manoj Gaur, former Chairman and Managing Director of Jaypee Infratech Ltd. Gaur faces serious charges from the Enforcement Directorate (ED) in a money laundering case valued at over Rs 13,000 crore, which impacts approximately 25,000 homebuyers.

During Wednesday's hearing, Additional Sessions Judge Dhirendra Rana reserved judgment after listening to arguments presented by Manoj Gaur's legal counsel and the Special Public Prosecutor for the ED, Atul Tripathi. It was previously on February 6 that the Delhi High Court extended Gaur's interim bail, originally granted by a trial court due to his mother's health, introducing strict conditions to prevent business activity and property transactions.

The ED has staunchly opposed the bail. Counsel for the accused contended that the detention is disproportionate given the case's context and broader legal concerns. According to the ED, funds collected for residential projects were siphoned off for unrelated uses, backed by evidence gathered during exhaustive searches of multiple Jaypee offices across cities. The agency's investigation under the Prevention of Money Laundering Act suggests a complex scheme masterminded by Gaur to divert large funds within the Jaypee Group.

(With inputs from agencies.)