Real Estate Titans Declared Fugitive Economic Offenders in Major Fraud Case

A special PMLA court in Gurugram has declared Sunil Jindal and Jitender Kumar Garg, promoters of the SRS real estate company, as fugitive economic offenders. The declaration follows allegations of a Rs 2,200 crore fraud involving investors and homebuyers. Interpol red notices have been issued against them.

A special PMLA court in Gurugram has declared Sunil Jindal and Jitender Kumar Garg, key figures in the Faridabad-based real estate company SRS, as fugitive economic offenders in a significant fraud case involving Rs 2,200 crore, officials reported on Saturday.

Special Judge Vani Gopal Sharma made the declaration under the Fugitive Economic Offenders Act, 2018, on January 15. The accused, reportedly absconding in Dubai and Georgia, were issued Interpol red notices at the request of the Enforcement Directorate, alongside another director, Praveen Kumar Kapoor.

Kapoor, deported from the United States in November, is currently in Neemka jail. The Enforcement Directorate is set to confiscate the assets of the accused, having alleged they laundered investments from hundreds of shell companies. The ED's actions follow numerous FIRs filed by multiple law enforcement agencies against the SRS Group.

(With inputs from agencies.)