In a major action against absconding financial offenders, a Special Court under the Prevention of Money Laundering Act in Gurugram has formally declared Jitender Kumar Garg and Sunil Jindal, promoters and directors associated with several companies of the SRS Group, as fugitive economic offenders under the Fugitive Economic Offenders Act, 2018. The declaration follows a detailed application moved by the Directorate of Enforcement, marking a significant escalation in the long-running case against the group.
The Enforcement Directorate’s Gurugram Zonal Office had sought similar action against another accused, Praveen Kumar Kapoor. However, officials clarified that Kapoor was deported to India on November 1, 2025, after a Red Corner Notice was issued through Interpol at the ED’s request. As a result, proceedings under the fugitive law were pursued only against Garg and Sunil Jindal, who continue to remain outside the country.
The money laundering investigation has its roots in a large number of criminal cases, with nearly 81 FIRs registered by the Haryana Police, the Economic Offences Wing in Delhi, and the Central Bureau of Investigation. These cases were filed under various provisions of the Indian Penal Code against Jitender Kumar Garg, Sunil Jindal, Anil Jindal, Praveen Kumar Kapoor and other directors and senior officials linked to the Faridabad-based SRS Group.
According to investigators, the accused allegedly mobilised around Rs 2,200 crore from the public and banking institutions by projecting investment schemes that promised unusually high returns. The funds collected were allegedly siphoned off instead of being used for their stated purposes, resulting in large-scale cheating and financial losses to investors.
During the course of the probe under the PMLA, the ED identified the principal accused and several related entities as being involved in laundering the proceeds of crime. A prosecution complaint was filed in 2022, and the agency has since attached movable and immovable assets worth Rs 2,215.98 crore, which it claims are directly linked to the alleged fraud and money laundering activities.
Further investigation under the Fugitive Economic Offenders Act revealed that Jitender Kumar Garg, Sunil Jindal and Praveen Kumar Kapoor had left India to evade criminal proceedings. While Kapoor has now been brought back to face the law, ED officials stated that sufficient material exists to show that Garg and Jindal are currently residing in foreign jurisdictions and have deliberately avoided returning to India to escape trial.
Prior to their declaration as fugitive economic offenders, non-bailable warrants, look-out circulars and Red Corner Notices had been issued against all the accused. They were also declared proclaimed offenders by the Special Court on June 6, 2025, after repeated failures to appear before the court.
With Jitender Kumar Garg and Sunil Jindal now formally designated as fugitive economic offenders, the Enforcement Directorate has initiated proceedings to confiscate their properties under the provisions of the Fugitive Economic Offenders Act. Officials said this step is aimed at preventing absconding accused from enjoying the benefits of assets acquired through alleged criminal activities and ensuring that the proceeds of crime are ultimately recovered.
