A special Gurugram court has ordered restitution of properties worth about ₹650 crore to 2,312 home buyers in the case of SRS Group, which is being investigated by the Enforcement Directorate.
The properties are in the form of flats and plots. The case pertains to the projects launched by SRS Group such as SRS City, SRS Pearl Floor, SRS Pearl Tower, SRS Residency, SRS Royal Hills, SRS Prime Floor, SRS Pearl Unity, SRS Affordable Housing Project, SRS Pearl Height and SRS Retreat Farms.
The ED had initiated its probe under the Prevention of Money Laundering Act against SRS Group based on 81 cases registered by the police in Delhi, Haryana’s Faridabad, and the Central Bureau of Investigation.
The Group, which is in the business of real estate and financing, has been accused of cheating investors and banks to the tune of ₹2,200 crore.
According to the ED, the accused persons and entities lured investors on the promise of high returns. “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 ₹2,215.98 crore had already been issued in this case,” it said.
The agency filed a prosecution complaint on August 29, 2022. The court took cognisance and framed charges against the accused persons and entities on November 3, 2025.
“The present development paves the way for restoration of attached properties to other genuine homebuyers/legitimate claimants including banks and other financial institutions,” said the agency.
Earlier in the case, it said, three accused persons named Praveen Kumar Kapoor, Sunil Jindal, and Jitender Garg were declared proclaimed offenders by the special court and a request for publication of Interpol Red Notice was made by the ED.
Based on the notice, Mr. Kapoor was denied entry at Newark International Airport, US and deported to India by the US authorities on November 2, 2025. He is currently lodged in Neemka Jail, Fairdabad. The two other accused have been declared as fugitive economic offenders by the court, the ED said.
The agency had previously restituted 78 flats worth ₹20.15 crore to homebuyers. The total value of restitution/restoration of properties in the case stands at about ₹670 crore.
Published – March 19, 2026 02:07 am IST
