The Enforcement Directorate on Friday conducted raid at multiple locations of Jaypee Infratech, Jaypee Associates and some others in a Rs 12,000 crore investment fraud case, news agency PTI reported citing official sources.
The central investigating agency carried these raids in Delhi-NCR and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), they said.
The action is in the case related to Jaypee Infratech, Jaypee Associates Limited and others for alleged fraud with homebuyers and investors of around Rs 12,000 crore and linked "diversion" of funds, according to the officials.
Asociated entities of the group like Gaursons, Gulshan, Mahagun and Suraksha Reality are also being investigated.
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