The Enforcement Directorate on Friday carried out searches at a number of areas as a part of a cash laundering probe in opposition to Jaypee Infratech, Jaypee Associates and a few others in a Rs 12,000 crore funding fraud case, official sources mentioned.
The raids are being carried out in Delhi-NCR and Mumbai beneath the provisions of the Prevention of Cash Laundering Act (PMLA), they mentioned.
The searches are within the case associated to Jaypee Infratech, Jaypee Associates Restricted and others for alleged fraud with homebuyers and traders of round Rs 12,000 crore and linked “diversion” of funds, they mentioned.Asociated entities of the group like Gaursons, Gulshan, Mahagun and Suraksha Actuality are additionally being lined, the sources mentioned.
There was no fast response from the businesses involved.