Gurugram, Jan 18 (IANS) A Special Court (PMLA) in Gurugram has declared Jitender Kumar Garg and Sunil Jindal — promoters and directors in various companies of SRS Group — as fugitive economic offenders in the more than Rs 2,200 crore investment fraud involving funds collected from public and banks, an ED official said on Sunday.

The declaration by the Special Court was issued on January 15 under the Fugitive Economic Offenders Act, 2018 (FEOA), the ED said in a statement.

Jindal, according to ED officials, is based in Dubai and Garg is in Georgia.

The declaration was made based on an application filed by the ED’s Gurugram Zonal Office before the court for declaration of Garg, Jindal and Praveen Kumar Kapoor as Fugitive Economic Offenders under the FEOA Act, 2018.

“With the process of declaring Garg and Jindal as Fugitive Economic Offender completed, now the process regarding confiscation of their properties as per provisions of FEOA Act has been initiated,” the ED said.

The ED added that Praveen Kumar Kapoor was deported to India on November 1, 2025, based on a red corner notice issued by Interpol on ED’s request.

The ED initiated investigation based on 81 FIRs registered by the Haryana Police, Delhi Economic Offences Wing and Central Bureau of Investigation in New Delhi, under various sections of IPC, 1860, against Anil Jindal, Jitender Kumar Garg, Sunil Jindal and Praveen Kumar Kapoor and other Directors/key employees of the SRS Group, a Faridabad-based real estate company.

“The company and its officials had collected Rs 2,200 crore from the public/banks in the name of investment. They promised huge returns on such investments and finally cheated the investors by way of committing fraud,” the ED said.

The ED investigated and identified accused persons and companies involved in the offence of money laundering.

The ED investigation found among others, Garg, Jindal and Kapoor to be involved in the offence of money laundering and accordingly, a charge sheet was filed in this case in 2022.

Investigation by the ED identified properties/assets acquired using Proceeds of Crime and the quantum of total attachment made so far in this matter stands at Rs 2,215.98 crore.

The ED investigation under FEOA has revealed that all three accused have left India, and it is reasonably ascertained that Garg and Jindal are residing in foreign jurisdictions.

The accused have been evading the process of law by staying outside the jurisdiction of Indian courts so as not to face criminal prosecution, the ED said.

Non-Bailable Warrant of Arrest, Look Out Circular and Red Corner Notice have been issued against all fugitives. They have been declared as proclaimed offenders by the Special Court earlier on June 6, 2025.

–IANS

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