New Delhi, May 23 (PTI) The Enforcement Directorate on Friday conducted multiple searches as part of a money laundering probe against Jaypee Infratech, Jaiprakash Associates and some others in a Rs 12,000 crore worth homebuyers "fraud" case, official sources said.

The raids are being carried out in Delhi-NCR and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), they said.

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The searches are related to Jaypee Infratech, Jaiprakash Associates Limited and others for alleged fraud with homebuyers and investors of around Rs 12,000 crore and linked "diversion" of funds, the sources said.

Jaiprakash Associates Ltd, currently facing insolvency proceedings, is into cement, construction, real estate, power and hospitality business among others.

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Some other real estate companies like Gaursons, Gulshan, Mahagun and Suraksha Realty were also being covered as part of this case, the sources said.

Suraksha Realty has acquired Jaypee Infratech Ltd through insolvency to complete stalled housing projects in NCR comprising around 20,000 flats.

Some documents and computer devices have been recovered from the searched locations, they said.

There was no immediate response from the companies concerned.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)