A special PMLA court in Gurugram has officially declared two promoters of the SRS Group as fugitive economic offenders. This decision comes just days after a CBI court in Panchkula sentenced six directors of the same real estate company to rigorous imprisonment.
Court Declares Promoters Fugitives
The Gurugram court held proceedings on Friday and declared Jitender Kumar Garg and Sunil Jindal as fugitive economic offenders under the Fugitive Economic Offenders Act of 2018. The Enforcement Directorate had requested this declaration for three individuals, including Praveen Kumar Kapoor.
Praveen Kumar Kapoor faced deportation to India on November 1 last year. Authorities acted on a Red Corner Notice issued by Interpol at the ED's request. The court's recent orders confirm the fugitive status of Garg and Jindal.
Previous Sentencing in Panchkula
Earlier this month, the CBI court in Panchkula delivered significant sentences. It convicted six SRS Group directors for their involvement in a Rs 152 crore fraud case against Canara Bank. The court imposed prison terms ranging from four to six years along with substantial fines.
The convicted directors include:
- Rajesh Singhla
- Anil Jindal
- Bishan Bansal
- Nanak Chand Tayal
- Seema Narang
- Dheeraj Gupta
These individuals have been undergoing trial since 2020. Their sentencing marked a crucial development in this extensive financial fraud investigation.
Enforcement Directorate Investigation
The Enforcement Directorate launched its probe based on approximately 81 FIRs. Multiple agencies filed these complaints, including:
- Haryana Police
- Economic Offences Wing of Delhi
- Central Bureau of Investigation in New Delhi
These cases involved various sections of the Indian Penal Code. They targeted Anil Jindal, Jitender Kumar Garg, Sunil Jindal, Praveen Kumar Kapoor, and other key employees of the Faridabad-based SRS Group.
Massive Financial Fraud Uncovered
Investigators allege the promoters and directors collected approximately Rs 2,200 crore from the public and banks. They promised investors substantial returns on their investments but ultimately committed fraud. The ED found evidence of money laundering involving Garg, Jindal, and Kapoor.
In 2022, the ED filed a prosecution complaint based on these findings. The investigation identified numerous properties and assets as proceeds of crime. Total attachments in this case currently stand at Rs 2,215.98 crore.
Fugitives Evade Indian Jurisdiction
The ED investigation under the FEO Act revealed all three accused left India. Authorities reasonably ascertained that Jitender Garg and Sunil Jindal were residing in foreign jurisdictions. These individuals deliberately stayed outside India to avoid criminal prosecution.
Law enforcement agencies issued multiple measures against the fugitives:
- Non-bailable warrants of arrest
- Look out circulars
- Red Corner Notices through Interpol
On June 6, 2025, the Special Court declared them proclaimed offenders. With the recent fugitive economic offender declaration, authorities have initiated confiscation of their properties under the FEO Act provisions.
The ED emphasized that the accused persons evaded the legal process by remaining outside Indian court jurisdiction. This systematic approach demonstrates the government's commitment to pursuing economic offenders across international borders.
