New Delhi (The Hawk): On Thursday, the Enforcement Directorate (ED) announced that it had filed a chargesheet under the Prevention of Money-laundering Act (PMLA) against 19 individuals, including Anil Jindal, Chairman of the SRS Group of Companies, Directors Jitender Kumar Garg, Praveen Kumar Kapoor, and Vinod Jindal, in a case involving fraud committed against a number of homebuyers and investors.
Up to this point, the case's estimated sum of criminal proceeds is $2,215.98 billion.
The chargesheet was submitted to a Gurugram special court. The prosecution complaint has been taken under consideration by the court.
The 81 FIRs under various sections of the Indian Penal Code that were filed at various police stations throughout Faridabad and Delhi against the accused served as the foundation for the ED's money laundering probe.
During its investigation, the ED discovered that the suspects had deceived unsuspecting buyers by offering to deliver flats, parcels of land, commercial spaces, etc. They were unable to complete the projects, though.
Additionally, mortgages were placed on the real estate projects in order to obtain loans from banks and other financial entities.
However, because the loans were not utilised as anticipated and were in default, they eventually became NPAs.
The money so amassed from the buyers was piled into a variety of SRS Group-created shell corporations, and then it was syphoned off to buy assets in the buyers' personal names and the names of entities they controlled.
(Inputs from Agencies)