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A PMLA court in Gurugram has framed charges against the promoters and key officials of SRS Group in a money laundering case worth around INR 2,200 crore. The Enforcement Directorate found that the group collected funds from homebuyers and investors with promises of high returns, but diverted the money through shell companies into unrelated ventures. Earlier, a provisional attachment of INR 2,215 crore was issued, and several accused were declared fugitives under the Fugitive Economic Offenders Act. One accused was recently deported to India, and the trial is now set to begin.
A PMLA court in Gurugram has formally charged the promoters and top officials of SRS Group in connection with a money laundering case involving approximately INR 2,200 crore. The Enforcement Directorate (ED) investigation revealed that the group raised funds from homebuyers and investors under the promise of high returns from residential and commercial projects. Instead of deploying the money for the projects, funds were allegedly routed through a network of shell companies and redirected into unrelated business ventures. Advertisement
The order names promoter director Anil Jindal, Vinod Jindal, Bishan Bansal, Rajesh Singla, Vinod Kumar Garg, and Navneet Kwatra, Seema Narang, Dheeraj Gupta, and Devender Adhana as accused. In addition, three corporate entities SRS Real Estate, Horizon Global, and SRS Finance have also been included in the charge sheet. The case builds upon 81 FIRs filed across Faridabad and Delhi, along with investigations by the Central Bureau of Investigation under various sections of the IPC.
Earlier, the ED had issued a provisional attachment order worth INR?2,215?crore and filed a prosecution complaint in August 2022. Three of the accused Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg were declared proclaimed offenders under the Fugitive Economic Offenders Act, and Red Corner Notices were sought from INTERPOL. Kapoor was recently intercepted at Newark International Airport in the US and deported to India on 2 November 2025.
The court?s decision to frame charges marks a crucial step in moving the case from investigation to trial. The ED has emphasized that this step could lead to restitution of attached assets to affected homebuyers and investors. The ongoing investigation continues to trace assets and examine the full scale of diversion of funds.
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