ED Press Release on Framing of Charges in SRS Group Money Laundering Case.

Headnote:

The Directorate of Enforcement (ED) announced that the Hon’ble Special Court (PMLA), Gurugram, has framed charges against individuals and companies involved in the ₹2200 crore SRS Group real estate scam. The accused, including promoter-director Anil Jindal and several others, are charged under the Prevention of Money Laundering Act, 2002 (PMLA), for defrauding investors and banks through a network of shell companies. The case marks a significant milestone in the ED’s efforts for swift trial and restitution of properties to legitimate claimants and homebuyers.

Background:

• ED initiated an investigation based on 81 FIRs registered across police stations in Faridabad, Delhi, and CBI against SRS Group.

• The Group allegedly cheated investors and banks to the extent of ₹2200 crore by promising high returns on investments in residential and commercial projects.

• Funds collected from investors were funneled through hundreds of shell companies created by the Group and subsequently laundered.

• A Provisional Attachment Order of ₹2215.98 crore has been issued, and a Prosecution Complaint (COMA 14/2022) was filed before the Special Court (PMLA) on 29 August 2022.

Court’s Observations / Development:

• The Special Court framed charges against accused individuals — Anil Jindal, Vinod Jindal, Bishan Bansal, Rajesh Singla, Vinod Kumar Garg, Navneet Kwatra, Seema Narang, Dheeraj Gupta, and Devender Adhana.

• Corporate entities charged include M/s SRS Real Estate Ltd., M/s Horizon Global Ltd., and M/s SRS Finance Ltd.

• The framing of charges paves the way for the trial and recovery of attached properties for victims.

• Three other accused — Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg — had earlier been declared proclaimed offenders, and proceedings under the Fugitive Economic Offenders Act were initiated.

• Interpol issued Red Corner Notices, resulting in the deportation of Praveen Kumar Kapoor from the USA on 2 November 2025.

Legal Provisions Discussed:

• Prevention of Money Laundering Act, 2002 (PMLA) – Prosecution and trial of money-laundering offences.

• Indian Penal Code, 1860 (Sections related to cheating and criminal conspiracy) – Underlying predicate offences for money laundering.

• Fugitive Economic Offenders Act, 2018 (FEOA) – Proceedings initiated against absconding accused.

Status:

Further investigation by the Directorate of Enforcement is underway.

Date: 12 November 2025

Court: Special Court (PMLA), District and Sessions Court Complex, Gurugram

Order Date: 3 November 2025