Gurugram PMLA court frames charges in Rs 2,200 crore SRS Group realty fraud case linked to 81 FIRs

NEW DELHI: The Gurugram Special PMLA court has framed charges against promoter-director Anil Jindal and others in the alleged Rs 2,200 crore SRS Group money laundering case. During the investigation by the Enforcement Directorate (ED), it was found that funds were diverted through shell firms. This development will now pave the way for the trial of the accused persons and entities, and for restoring the attached properties to legitimate claimants and homebuyers. The court has framed charges against Anil Jindal, promoter-director of SRS Group, and other persons involved, namely Vinod Jindal, Bishan Bansal, Rajesh Singla, Vinod Kumar Garg, Navneet Kwatra, Seema Narang, Dheeraj Gupta, and Devender Adhana. The companies involved include SRS Real Estate Limited, Horizon Global Limited, and SRS Finance Limited. The ED initiated its investigation against the SRS Group on the basis of 81 FIRs registered at various police stations across Faridabad, Delhi, and the CBI. The group has been accused of cheating investors and banks to the tune of Rs 2,200 crore. The probe revealed that the accused persons and entities of the SRS Group lured investors to invest in the company with promises of high returns on their investments, and in various residential and commercial projects. Funds from such investments were deposited in hundreds of shell companies created by the SRS Group and were subsequently laundered. A Provisional Attachment Order of Rs 2,215.98 crore has been already issued in this case, the ED said. It signifies a crucial milestone in the pursuit of justice and the enforcement of the rights of investors who have suffered as a result of the alleged fraud. Earlier in the case, three other accused persons, Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg, were declared proclaimed offenders by the Special Court, and a request for the publication of a Red Corner Notice was made to Interpol by the ED. Moreover, proceedings under the Fugitive Economic Offenders Act (FEOA) were also initiated against them by the ED. Based on the Interpol Red Corner Notice, Praveen Kumar Kapoor was denied entry at Newark International Airport, US, and was deported to India by US authorities in November. Now, since the charges have been framed, the ED said it will endeavour to take all necessary steps for the restitution of properties to their legitimate claimants, in accordance with the law.