GURUGRAM: A significant development in one of North India’s largest real estate fraud cases has emerged as a PMLA court has charged key officials and promoters of the SRS Group in connection with a ₹2,200-crore money laundering investigation led by the Enforcement Directorate (ED).
The court’s order, issued on Nov 3, lists charges against Anil Jindal, the promoter-director of SRS Group, along with Vinod Jindal, Bishan Bansal, Rajesh Singla, Vinod Kumar Garg, Navneet Kwatra, Seema Narang, Dheeraj Gupta, and Devender Adhana. Charges have also been filed against three corporate entities: SRS Real Estate, Horizon Global, and SRS Finance.
According to the ED, the SRS Group enticed investors with promises of lucrative returns on residential and commercial projects. However, the money raised was allegedly funneled into various shell companies set up by the group, laundered, and diverted to finance unrelated businesses. The ED’s investigation was triggered by 81 FIRs lodged across Faridabad, Delhi, and by the CBI under different sections of the IPC.
ED officials have indicated that a provisional attachment order amounting to ₹2,215 crore has already been issued, with a prosecution complaint submitted to the court in August 2022. “The framing of charges signifies progress toward justice for countless homebuyers and investors who were deceived,” said an ED officer.
Additionally, three individuals—Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg—had previously been declared proclaimed offenders by the court. Legal actions under the Fugitive Economic Offenders Act (FEOA) were initiated against them, and Interpol Red Corner notices were requested. Kapoor was detained at Newark International Airport in the U.S. and deported to India on Nov 2, 2025.
Officials highlighted that the current charge framing sets the stage for a trial of the accused and the potential recovery of attached assets for rightful claimants and homebuyers.
The investigation into this matter is ongoing.
