NEW DELHI: The Enforcement Directorate restored immovable assets worth Rs 650 crore to more than 2,300 home buyers as part of a money laundering probe against Faridabad-based realty company SRS Group, officials said on Tuesday.
They said a special provision in the Prevention of Money Laundering Act (PMLA) in Gurugram allowed the federal probe agency to take this step, as provided under the anti-money laundering law.
The Gurugram zonal office of the ED has successfully restored immovable assets worth about Rs 650 crore to 2,312 genuine home buyers in SRS projects who were allegedly duped, the officials said.
It is alleged that the SRS Group promoters and executives lured investors and home buyers by promising high returns on their investments in various residential and commercial projects.
“Funds from such investments were deposited in hundreds of shell companies created by SRS Group and were subsequently laundered off,” the ED had earlier alleged in a press statement.
In January, the PMLA court declared two promoters and directors of the group – Sunil Jindal and Jitender Kumar Garg — as fugitive economic offenders (FEO) under the FEO Act.
