NEW DELHI: The Enforcement Directorate has returned immovable assets valued at ₹650 crore to over 2,300 home buyers as part of its ongoing investigation into money laundering involving the Faridabad-based SRS Group, according to officials.
They noted that a specific provision in the Prevention of Money Laundering Act (PMLA) in Gurugram enabled the federal agency to undertake this action under anti-money laundering regulations.
The ED’s Gurugram zonal office has effectively restored assets worth approximately ₹650 crore to 2,312 legitimate home buyers who were reportedly cheated in SRS projects, officials confirmed.
It is alleged that the promoters and executives of SRS Group attracted investors and home buyers with promises of high returns on their investments in various real estate ventures, both residential and commercial.
The ED asserted in a previous statement that “Funds from these investments were funneled into numerous shell companies established by the SRS Group and later laundered.”
In January, the PMLA court identified two promoters and directors of the Group – Sunil Jindal and Jitender Kumar Garg – as fugitive economic offenders under the FEO Act.
