Enforcement Directorate (ED) provisionally attached movable and immovable assets worth Rs 2510.82 cr of SRS Group, its promoters, their family members and associate compes under Prevention of Money Laundering Act(PMLA) in a cheating and fraud case.
"Enforcement Directorate (ED) has provisionally attached movable and immovable assets consisting of Land, Real Estate Projects, Commercial Projects, Residential Houses, School, Cinema hall, balances in bank accounts & fixed deposits totalling to Rs 2510.82 Crores of the SRS Group, its promoters, their family members and associate compes under Prevention of Money Laundering Act, 2002 (PMLA) in a cheating and fraud case," an official statement said on Thursday.
The statement informed that ED initiated the investigation by recording its case ECIR under the provisions of PMLA, on the basis of FIRs under section 420, 467, 471 and 120-B of the Indian Penal Code registered at various Police Stations in Faridabad and chargesheets filed by Haryana Police.
"During PMLA investigations, it is revealed that accused l Jindal, Jitender Kumar Garg & Praveen Kumar Kapoor were the key promoters of SRS Group. They along with other accomplices/ associates hatched a criminal conspiracy and have lured investments from several individual and institutions on fake promises of high returns in the guise of investments in real estate units viz. shops, plots, flats, SCOs, apartments etc," the statement said.
It further alleged that these funds/investments were later 'siphoned off into group compes through various shell compes of the SRS Group having dummy directors who were mainly SRS Group employees'.
Further investigation in the case is under progress.
( With inputs from ANI )