Former Jaypee Infratech MD Manoj Gaur Denied Bail in Major Money-Laundering Case

Delhi court denied bail to Manoj Gaur, ex-managing director of Jaypee Infratech, accused of money laundering. The case involves cheating thousands of homebuyers, with funds diverted away from residential projects. Gaur, linked to Rs 14,599 crore fraud, faces serious allegations and may commit further offences.

A Delhi court has refused bail to Manoj Gaur, the former managing director of Jaypee Infratech, citing his involvement in a high-stakes money-laundering case. The allegations involve cheating and criminal breach of trust concerning vast sums of money drawn from numerous homebuyers.

Gaur, arrested by the Enforcement Directorate in November on charges related to a Rs 14,599 crore scam, allegedly redirected funds meant for residential developments, leaving projects unfinished. The court emphasized the gravity of the alleged crimes, noting Gaur's history of similar offences and the potential risk of further wrongdoing if released.

Additional Sessions Judge Dhirendra Rana highlighted the substantial financial discrepancies, with billions misappropriated at Gaur's direction. Homebuyers, left in financial limbo, have filed multiple complaints leading to the ED's probe into the case. The court's ruling prioritizes caution in light of the serious charges and Gaur's failure to meet bail conditions under the Prevention of Money Laundering Act.

(With inputs from agencies.)