What Charges Have Been Framed in the Rs 2,200 Crore SRS Group Money-Laundering Case?
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Synopsis
In a significant development, the PMLA Special Court in Gurugram has framed charges against prominent figures in the Rs 2,200 crore money-laundering case involving the SRS Group. This marks the beginning of the trial process and aims to restore justice for defrauded investors. Stay tuned for more updates on this unfolding legal battle.
Key Takeaways
- Charges framed against key individuals in SRS Group case.
- Trial marks a significant step in investor justice.
- Investigation revealed fraudulent schemes targeting investors.
- Provisional attachment order issued for Rs 2,215.98 crore.
- Further inquiries are ongoing to uncover the full extent of the fraud.
New Delhi, Nov 12 (NationPress) The PMLA Special Court in Gurugram has officially framed charges against several key figures and entities linked to the staggering Rs 2,200 crore money-laundering scandal involving the real estate firm SRS Group, as confirmed by a statement from the ED on Wednesday. This development signifies the initiation of the trial related to this major fraud.
The ED indicated that in its pursuit of a swift trial under the Prevention of Money Laundering Act (PMLA), charges were established on November 3, against the Promoter-Director of SRS Group, Anil Jindal, along with others including Vinod Jindal, Bishan Bansal, Rajesh Singla, Vinod Kumar Garg, Navneet Kwatra, Seema Narang, Dheeraj Gupta, and Devender Adhana.
Charges have also been laid against the companies M/s SRS Real Estate Ltd., M/s Horizon Global Ltd., and M/s SRS Finance Ltd.
The ED commenced its investigation based on 81 FIRs filed across various police stations in Faridabad, Delhi, and by the CBI, which accused these individuals of defrauding investors and banks of over Rs 2,200 crore.
As per the ED, the accused attracted investors into SRS Group’s residential and commercial developments by promising substantial returns. The funds amassed were reportedly funneled through numerous shell companies for personal and business enrichment.
Moreover, the agency has enacted a Provisional Attachment Order amounting to Rs 2,215.98 crore, and a chargesheet was filed before the Special PMLA Court in Gurugram on August 29.
This recent court ruling sets the stage for the trial of the accused and the possible return of seized assets to rightful claimants and homebuyers.
The ED referred to this development as a “significant milestone” in securing justice for investors who were deceived by the SRS Group.
Previously, three other suspects—Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg—were declared proclaimed offenders, with Red Corner Notices issued through Interpol.
In response to this notice, U.S. authorities recently deported Praveen Kumar Kapoor from Newark International Airport on November 2.
The ED has also initiated proceedings under the Fugitive Economic Offenders Act (FEOA) against the absconding accused.
“With charges now filed, the Directorate will undertake all necessary actions for the restitution of properties to rightful claimants as per legal provisions,” the agency stated, while confirming that further investigations are ongoing.
Point of View
This development underscores the importance of accountability in the financial sector. The legal proceedings against the SRS Group and its associates reflect a commitment to protecting investors and ensuring that justice prevails. As the trial progresses, it will be crucial for the judiciary to uphold the rule of law and restore faith in the financial markets.
NationPress
12/11/2025
Frequently Asked Questions
What is the SRS Group money-laundering case about?
The SRS Group money-laundering case involves allegations that key individuals and companies defrauded investors and banks of over Rs 2,200 crore through fraudulent schemes.
Who has been charged in the case?
Charges have been framed against SRS Group Promoter-Director Anil Jindal and several others, including Vinod Jindal, Bishan Bansal, and others, as well as multiple companies.
What actions has the ED taken in this case?
The ED has conducted investigations leading to the filing of charges, issued a provisional attachment order for assets, and initiated proceedings under the Fugitive Economic Offenders Act against absconding accused.
What does the court ruling mean for investors?
The court ruling allows for the trial to commence and potentially facilitates the restitution of seized assets to legitimate claimants and homebuyers.
What is the significance of this case?
This case highlights the critical need for investor protection and accountability in financial dealings, reinforcing trust in the regulatory framework.
