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News Topical, Digital Desk : There's significant news regarding the chairman of JP Power, a subsidiary of Jaiprakash Associates that has gone bankrupt and been sold. Manoj Gaur has surrendered. Following this news, JP Power shares fell today, February 20, 2026. At the time of writing, JP Power shares are trading at ₹14.77, down -0.07.
Jaiprakash Power Ventures Limited informed in an exchange filing that Manoj Gaur, Non-Executive Director and Chairman of JP Power, surrendered before the court on the evening of February 19, 2026, after the expiry of his interim bail. He was granted interim bail for 14 days by the Patiala Court in Delhi.
JP Power chairman was arrested by ED
JP Power Chairman Manoj Gaur was arrested by the Enforcement Directorate (ED) on November 13, 2025, in a 2018 money laundering case involving the alleged diversion of ₹13,000 crore. Subsequently, on January 24, the Patiala House Court granted him interim bail for 14 days. He surrendered in court on February 19.
Manoj Gaur reached the High Court for bail
He has now approached the High Court for bail. Justice Anup Jairam Bhambhani will hear Manoj Gaur's bail application. The Patiala House Court rejected his regular bail application on February 16. He has now filed a bail application in the Delhi High Court through his lawyer, Farukh Khan.
What is the whole matter?
The case involves alleged money laundering involving the funds of 25,000 homebuyers. Gaur was currently on interim bail due to his mother's health. The ED stated that this was a money laundering case involving homebuyers' money. The accused collected ₹13,000 crore but did not use it to provide housing to homebuyers.
The ED had said that it arrested Manoj Gaur, former Executive Chairman and Chief Executive Officer of M/s Jaiprakash Associates Limited (JAL) and former Chairman and Managing Director of M/s Jaypee Infratech Limited (JIL) under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002.
What does JP Power do?
Jaiprakash Power Ventures Limited operates in the power sector, focusing on the generation and supply of electricity. The company is part of the Jaypee Group and also engages in infrastructure-related businesses through its association with group entities such as Jaypee Infratech Limited and Jaiprakash Associates Limited.
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