Gurugram, Jan 17 (PTI) A special PMLA court in Gurugram has declared two promoters and directors of Faridabad-based real estate company SRS 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.
Jindal, according to the Enforcement Directorate officials, is based in Dubai and Garg is in Georgia. Interpol red notices have been issued against them on the ED's request, along with another director of the company -- Praveen Kumar Kapoor.
The three were declared proclaimed offenders by the said court in June 2025.
Kapoor was deported by the United States in November last year on the strength of an Interpol Red Notice.
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.
A chargesheet was filed by the federal agency in the case in 2022 and the special Gurugram court in November 2025 framed charges against Anil Jindal, promoter-director of the SRS Group, Vinod Jindal, Bishan Bansal, Rajesh Singla, Vinod Kumar Garg, Navneet Kwatra, Seema Narang, Dheeraj Gupta, Devender Adhana and companies like SRS Real Estate, Horizon Global and SRS Finance.
On the strength of the FEO declaration, the ED will now move to confiscate the assets of the two accused.
Liquor baron Vijay Mallya and United Kingdom-based arms consultant Sanjay Bhandari have been declared as FEOs in the past. PTI NES RC
