2 SRS executives declared fugitive economic offenders in fraud case

A special PMLA court in Gurugram has declared two SRS Group executives as fugitive economic offenders (FEOs) in a case of “fraud” with investors and homebuyers involving an amount of Rs 2,200 crore, officials said on Saturday.

The declaration was made by the court of Special Judge Vani Gopal Sharma on January 15 under the provisions of the Fugitive Economic Offenders Act (FEOA) against Sunil Jindal and Jitender Kumar Garg.

The two, along with another executive of the company, Praveen Kumar Kapoor, were declared proclaimed offenders by the court in 2025. Kapoor was deported by the United States in November last year on the strength of an Interpol Red Notice that the ED had got issued against him.

He is currently lodged in the Neemka jail in Haryana’s Faridabad. “... Keeping in mind that accused Sunil Jindal and Jitender Kumar Garg have failed to appear in this court despite due service of summonses as envisaged under section 10 of the Fugitive Act, therefore respondents Jitender Kumar Garg and Sunil Jindal are hereby declared as Fugitive Economic Offenders under section 12(1) of the Fugitive Economic Offenders Act, 2018...,” the court order, accessed by PTI, said.

The FEOA was brought in 2018 by the government with an aim of bringing to justice those who have left India to evade the clutches of law after committing fraud with a benchmark value of at least Rs 100 crore.

The ED moved the court last year to get the two accused declared as FEOs. The money-laundering case against the SRS Group and its promoters stems from a clutch of 81 FIRs filed by the Haryana (Faridabad) Police and the Delhi Police, apart from the Central Bureau of Investigation (CBI).

It is alleged that SRS Group promoters and executives lured investors 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.