2 months ago
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A peculiar Gurugram tribunal has ordered restitution of properties worthy astir ₹650 crore to 2,312 location buyers successful the lawsuit of SRS Group, which is being investigated by the Enforcement Directorate.
The properties are successful the signifier of flats and plots. The lawsuit pertains to the projects launched by SRS Group specified arsenic SRS City, SRS Pearl Floor, SRS Pearl Tower, SRS Residency, SRS Royal Hills, SRS Prime Floor, SRS Pearl Unity, SRS Affordable Housing Project, SRS Pearl Height and SRS Retreat Farms.
The ED had initiated its probe nether the Prevention of Money Laundering Act against SRS Group based connected 81 cases registered by the constabulary successful Delhi, Haryana’s Faridabad, and the Central Bureau of Investigation.
The Group, which is successful the concern of existent property and financing, has been accused of cheating investors and banks to the tune of ₹2,200 crore.
According to the ED, the accused persons and entities lured investors connected the committedness of precocious returns. “Funds from specified investments were deposited successful hundreds of ammunition companies created by SRS Group and were subsequently laundered off. A Provisional Attachment Order of ₹2,215.98 crore had already been issued successful this case,” it said.
The bureau filed a prosecution ailment connected August 29, 2022. The tribunal took cognisance and framed charges against the accused persons and entities connected November 3, 2025.
“The contiguous improvement paves the mode for restoration of attached properties to different genuine homebuyers/legitimate claimants including banks and different fiscal institutions,” said the agency.
Earlier successful the case, it said, 3 accused persons named Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg were declared proclaimed offenders by the peculiar tribunal and a petition for work of Interpol Red Notice was made by the ED.
Based connected the notice, Mr. Kapoor was denied introduction astatine Newark International Airport, US and deported to India by the US authorities connected November 2, 2025. He is presently lodged successful Neemka Jail, Fairdabad. The 2 different accused person been declared arsenic fugitive economical offenders by the court, the ED said.
The bureau had antecedently restituted 78 flats worthy ₹20.15 crore to homebuyers. The full worth of restitution/restoration of properties successful the lawsuit stands astatine astir ₹670 crore.
