The Enforcement Directorate has filed a prosecution complaint against 19 accused individuals and entities, including Anil Jindal, chairman of the SRS Group of Companies, and directors Jitender Kumar Garg, Praveen Kumar Kapoor, and Vinod Jindal. In a case involving fraud committed against various homebuyers and investors, the individuals were charged under the Prevention of Money Laundering Act (PMLA).
The ED’s chargesheet has been accepted by the Gurugram court. The ED launched a money laundering investigation against the accused based on 81 FIRs registered at various police stations across Faridabad and Delhi under various sections of the Indian Penal Code (IPC).
In its chargesheet, the ED claims that the accused deceived innocent buyers by promising to deliver flats, plots, and commercial spaces. However, they were unable to complete the projects.
‘Further, the real estate projects were mortgaged to avail loans from banks and other financial institutions. However, loans were not used for the intended purposes and were defaulted, eventually turning into non-performing assets (NPA)’ the ED said.
According to officials, the accused SRS Group members also enticed investors to invest in SRS Group ponzi schemes with unsustainable returns in the form of very high interest or jewellery on their investments. The interest on such investments was only paid for a few months, and the accused later gave investors post-dated cheques that were not honoured.
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