SRS Group Promoters in Rs 2,200 Crore Fraud

Two promoters of a real estate company called SRS Group, Jitender Kumar Garg and Sunil Jindal, have been declared fugitive economic offenders by a court in Gurugram.

This means they are being accused of cheating investors and banks out of a lot of money, around Rs 2,200 crore.

The court made this decision because they didn't show up when they were supposed to.

Another promoter, Praveen Kumar Kapoor, was brought back to India from another country.

Garg is currently in Georgia, and Jindal is in Dubai.

The Enforcement Directorate, which is like a financial crime investigation agency, asked the court to declare them as fugitive economic offenders.

Additionally, the Delhi Police’s Economic Offences Wing has registered a case against the promoters for alleged fraud involving more than Rs 250 crore.

The case involves a private firm that alleged it was cheated in a township development project on prime land in Dhuneila village in Gurgaon.

The promoters are accused of not handing over the promised plots, selling the complainant’s share of land to third-party homebuyers without consent, and evading taxes by undervaluing properties.