ED Returns Rs 650 Crore to Authentic Homebuyers in SRS Fraud Case
Synopsis
In a significant move, the Enforcement Directorate has returned properties valued at Rs 650 crore to over 2,300 genuine homebuyers. This restitution follows a court order related to the SRS Group's money laundering case, highlighting the agency's commitment to justice for affected investors.
Key Takeaways
The ED returned approximately Rs 650 crore to 2,312 homebuyers.
This action follows a court order from the PMLA court in Gurugram.
Restored properties include various SRS Group projects.
The total value of returned properties has now reached Rs 670 crore.
The investigation into the SRS Group is still active, with serious allegations of fraud.
New Delhi, March 18 (NationPress) The Enforcement Directorate (ED) has successfully returned immovable properties valued at approximately Rs 650 crore to 2,312 legitimate homebuyers as part of the ongoing money laundering investigation against the SRS Group, officials announced on Wednesday.
This restitution follows a directive issued on March 11 by the special Prevention of Money Laundering Act (PMLA) court located in Gurugram, which sanctioned the returning of seized properties to rightful claimants who experienced losses due to the purported fraud.
The ED revealed that the recovered assets encompass various flats and plots across multiple SRS Group projects, including 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.
Officials emphasized that this action was taken to guarantee that the “proceeds of crime” are returned to the appropriate claimants following a thorough verification of claims submitted by affected homebuyers.
Previously, the ED had returned 78 flats valued at around Rs 20.15 crore to genuine homebuyers. With the latest court order, the cumulative value of properties returned in this case has soared to approximately Rs 670 crore.
The investigation into money laundering activities surrounding the SRS Group began based on 81 FIRs filed by police in Faridabad and Delhi, as well as by the CBI, alleging that the group defrauded investors and banks of nearly Rs 2,200 crore.
The ED asserts that the group enticed investors and homebuyers by guaranteeing high returns on investments in both residential and commercial developments. Allegedly, the funds obtained were funneled through numerous shell companies and subsequently laundered.
Previously, the agency issued a provisional attachment order for assets exceeding Rs 2,215 crore in relation to this case and has filed a prosecution complaint with the PMLA court in Gurugram.
Officials noted that this latest restitution paves the way for returning seized properties to other legitimate claimants, including banks and financial institutions, marking a pivotal step towards delivering justice to numerous homebuyers impacted by the alleged fraud.
Point of View
The ED's restitution of assets marks a crucial step in upholding the rule of law and ensuring justice for countless homebuyers deceived by the SRS Group's fraudulent schemes. This move reflects a broader commitment to protecting consumer rights and restoring public trust in financial institutions.
NationPress
20 Jun 2026
Frequently Asked Questions
What prompted the ED to return the properties?
The return of properties was mandated by a court order following a money laundering investigation against the SRS Group, aimed at compensating genuine homebuyers who were victims of fraud.
How many homebuyers benefited from this restitution?
A total of 2,312 genuine homebuyers received properties valued at approximately Rs 650 crore.
What types of properties were restored?
The restored properties include flats and plots from several SRS Group projects such as SRS City, SRS Pearl Floor, and more.
What was the total value of properties restored so far?
With this latest order, the total value of properties restored in the case has reached around Rs 670 crore.
What is the status of the investigation against the SRS Group?
The money laundering investigation is ongoing, initiated based on allegations of the group defrauding investors and banks of around Rs 2,200 crore.
