The arrest of Manoj Gaur, Managing Director of Jaypee Infratech, by the Enforcement Directorate on Thursday comes after years of tumult at the company and the Jaypee Group. As per sources, the ED has alleged that Jaypee Associates Ltd, through Manoj Gaur, is involved in a Rs 12,000-crore fraud, including diversion and siphoning of home buyers' funds. Advertisement

Jaypee Infratech went into insolvency in 2017 following an application filed by a consortium led by IDBI Bank. Last March, the National Company Law Tribunal approved the bid of Mumbai-based Suraksha Group and the final takeover took place last May after the National Company Law Appellate Tribunal approved the resolution plan with the provision that Suraksha would pay Rs 1,335 crore as compensation to farmers in the Yamuna Expre

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