ED says Jaypee diverted homebuyers' funds to F1 track, expressway

Many people paid money to a company called Jaypee Infratech to build them homes in Noida and Greater Noida.

The company got a very large amount of money, about Rs 32,825 crore, from 25,000 home buyers.

But investigators say that a big part of that money, about Rs 13,833 crore, was not used for building the homes.

Instead, they say the money went to other things like a car racing track, a hospital company, a charity trust, and a highway.

That means for every rupee a home buyer paid, about 42 paise did not go toward their house.

Because of this, many homes were never finished, like the ones in the Jaypee Greens Wishtown area.

A special investigation team called the Enforcement Directorate is looking into this case.

The former head of the company, Manoj Gaur, was arrested and is asking a court to let him out on bail.

The court heard about how the money was allegedly used during his bail hearing.

The company and its leaders are accused of not using the home buyers' money properly.