Gurugram: In cases related to the SRS Group, the PMLA Special Judge at Gurugram has ordered restitution of immovable properties valued at Rs 281.85 crore to 12 genuine home buyers, the Enforcement Directorate (ED) said on Thursday.
The move to restore the Proceeds of Crime (PoC) to the rightful claimants follows the Special Judge’s separate orders dated May 19, June 4 and June 11, the ED said in a statement.
The Special Judge also directed the distribution of a share of the PoC to the Resolution Professional of SRS Real Estate in the case of SRS Group, the ED said.
The restored properties include flats of various projects launched by SRS Group such as SRS Royal Hills, Phase-I & II, SRS City, SRS Pearl Floor, SRS Pearl Tower, SRS Residency and SRS Prime Floor, the central agency added.
The ED initiated an investigation against SRS Group on the basis of 81 FIRs under various Sections of IPC, 1860, registered at various Police Stations across Faridabad, Delhi as well as by the Central Bureau of Investigation (CBI), an official statement said.
“The SRS Group was accused of cheating investors and banks to the tune of Rs 2,200 crore. The SRS Group was into the business of real estate and financing,” the ED said.
“The promoters had committed offences of fraud/criminal conspiracy/cheating/criminal breach of trust for diversion/criminal misappropriation of the property, among others, by defrauding the homebuyers/plot buyers, banks and other financial institutions,” the federal probe agency added.
The ED investigation revealed that the accused persons/entities of SRS Group lured investors to invest in SRS Group in lieu of promise of high returns and in various residential and commercial projects.
Funds from such investments were deposited in hundreds of shell companies created by SRS Group and were subsequently laundered off.
A Provisional Attachment Order of Rs 2,215.98 crore had already been issued in this case and subsequently a charge sheet dated August 29, 2022, was filed by the ED before Special PMLA Court of PMLA at Gurugram, the statement said.
The court had taken cognisance of the charge sheet on October 31, 2022, and framed charges against the accused persons/entities vide order dated November 3, 2025.
The present development paves the way for restoration of attached properties to genuine homebuyers and legitimate claimants such as Resolution Professional, the ED said.
It signifies a crucial milestone in the pursuit of justice and the enforcement of the rights of investors who have suffered as a result of fraud.
Earlier in the case, three accused persons namely, Praveen Kumar Kapoor, Sunil Jindal and Jitender Garg, were declared Proclaimed Offender by the Special Court and request for publication of Red Corner Notice was made to Interpol by the ED.
Based on Interpol Red Corner Notice, Praveen Kumar Kapoor was denied entry at Newark International Airport in the US, and deported to India by American authorities on November 2, 2025.
Two other accused persons namely, Sunil Jindal and Jitender Garg, have been declared as fugitive economic offenders by the court vide order dated January 15, 2026, the ED added.
“Earlier in this case, the ED restituted immovable properties valued at Rs 670.15 crore to 2,390 genuine home buyers. The total value of restitution/restoration of properties in the case stands at Rs 952 crore,” the statement said.
(IANS)
