New Delhi: In a much anticipated development, the Enforcement Directorate (ED) on Wednesday arrested Manoj Gaur, former Executive Chairman and CEO of Jaiprakash Associates Ltd (JAL) and former Chairman of Jaypee Infratech Ltd (JIL), in a money-laundering case linked to alleged diversion of homebuyers’ funds from Jaypee Group’s large housing projects in Noida’s Sector 128 and Sector 151.

Gaur’s arrest under the Prevention of Money Laundering Act (PMLA), 2002, follows months of scrutiny of financial records, inputs by stakeholders, statements and evidence related to complaints filed by thousands of homebuyers whose projects were left stalled for years. The ED claims that of the approximately Rs 14,599 crore collected from buyers, a significant portion was siphoned off through layered transa

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