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by IANS |
New Delhi, Nov 12 (IANS) The PMLA Special Court at Gurugram has framed charges against key individuals and entities associated with the Rs 2,200 crore money-laundering case involving real estate firm SRS Group, an ED statement said on Wednesday.
This also marks the commencement of the trial in the scam.
The ED said that in line with its efforts for an expeditious trial under the Prevention of Money Laundering Act (PMLA), charges were framed on November 3, against SRS Group Promoter-Director Anil Jindal and several others, including Vinod Jindal, Bishan Bansal, Rajesh Singla, Vinod Kumar Garg, Navneet Kwatra, Seema Narang, Dheeraj Gupta, and Devender Adhana.
Charges have also been framed against the companies M/s SRS Real Estate Ltd., M/s Horizon Global Ltd., and M/s SRS Finance Ltd.
The ED initiated its probe based on 81 FIRs registered across various police stations in Faridabad, Delhi, and by the CBI, in which the accused were alleged to have cheated investors and banks of over Rs 2,200 crore.
According to the ED, the accused lured investors into SRS Group’s residential and commercial projects by promising high returns. The funds collected were allegedly routed through hundreds of shell companies and laundered for personal and corporate gains.
The agency has already issued a Provisional Attachment Order worth Rs 2,215.98 crore, and a chargesheet was filed before the Special PMLA Court in Gurugram on August 29.
The latest court order paves the way for the trial of the accused and potential restitution of attached assets to legitimate claimants and homebuyers.
The ED termed the development a “crucial milestone” in ensuring justice for investors defrauded by the SRS Group.
Earlier, three other accused -- Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg -- were declared proclaimed offenders, with Red Corner Notices sought through Interpol.
Acting on the notice, United States authorities recently deported Praveen Kumar Kapoor from Newark International Airport on November 2.
The ED also confirmed that proceedings under the Fugitive Economic Offenders Act (FEOA) have been initiated against the absconding accused.
“With charges now framed, the Directorate will take all necessary steps for restitution of properties to legitimate claimants in accordance with law,” the agency said, adding that further investigation is underway.
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