In a recent development related to the SRS Group, the PMLA Special Judge in Gurugram has directed the return of immovable properties valued at Rs 281.85 crore to 12 legitimate home buyers, as confirmed by the Enforcement Directorate (ED). This decision stems from the Special Judge’s rulings on May 19, June 4, and June 11, with a specific focus on restoring the Proceeds of Crime (PoC) to the rightful recipients. Additionally, a portion of the PoC has been allocated to the Resolution Professional of SRS Real Estate within the SRS Group matter.
The properties being reinstated encompass apartments from various SRS Group projects like SRS Royal Hills, Phase-I & II, SRS City, SRS Pearl Floor, SRS Pearl Tower, SRS Residency, and SRS Prime Floor, as outlined by the central agency. The ED’s probe into the SRS Group was initiated based on 81 FIRs lodged under different sections of the IPC, 1860, across Faridabad, Delhi, and investigations by the CBI. Allegations against the SRS Group include defrauding investors and financial institutions to the tune of Rs 2,200 crore, with activities spanning real estate and financial operations.
According to the ED, the accused individuals/entities within the SRS Group enticed investments by promising substantial returns across residential and commercial ventures. Funds sourced from these investments were channeled into numerous shell companies established by the SRS Group, subsequently undergoing a process of money laundering. Notably, a Provisional Attachment Order amounting to Rs 2,215.98 crore was previously issued, followed by a charge sheet filed by the ED on August 29, 2022, before the Special PMLA Court in Gurugram.
The recent court directives signify a significant step towards restoring attached properties to genuine homebuyers and authorized claimants, including the Resolution Professional, marking progress in the quest for justice and safeguarding the rights of affected investors. In a related development, three accused individuals – Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg – were declared Proclaimed Offender by the Special Court, with efforts to issue a Red Corner Notice via Interpol. Subsequently, Praveen Kumar Kapoor was intercepted at Newark International Airport in the US based on the Red Corner Notice and repatriated to India by US authorities on November 2, 2025.
