vada Presnea / una we DIRECTORATE OF ENFORCEMENT/ GOVERNMENT OF INDIA Gal weer sftPraa od ee gies Paro afer (FOREIGN EXCHANGE MANAGEMENT ACT & PREVENTION OF MONEY LAUNDERING ACT) Wen det, a.alreite the fates , wer anf Aaex 1s, , dete 1+ Floor, U.T. Government Press Building, Madhya Marg, Sector 18, Chandigarh-160018 ‘TELEPHONE NOs: (0172) 2540465, 2540495(EPBX) ~FAX NO. : (0172) 2543465 “No. BCIR/03/€DZ0/2018/9 72 Date:25! 012020" PROVISIONAL ATTACHMENT ORDER: ¢//2020 (UNDER SECOND PROVISO OF SUB-SECTION (1) OF SECTION 5 OF THE PREVENTION OF MONEY LAUNDERING ACT, 2002) 1. In exercise of the powers conferred under second proviso of sub- section (1) of Section 5 of the Prevention of Money Laundering Act, 2002 (15 of 2003), (hereinafter referred to as (PMLA) read with Notification No. GSR.441 (E) dated Ist July, 2005, and in terms of the Authorization dated 07.02.2007 read with Circular Order (Tech.) No. 03/2011 dated 27-09-2011 and Circular Order (Admn,) No.54/2011 dated 27-09-2011 issued by the Director, Directorate of Enforcement, New Delhi I, Jasmeet Singh Dhandra, Deputy Director, Directorate of Enforcement, Chandigarh, hereby order as under:- Gren were G ‘weave | Chas registered one FIR against SRS Group and its concerned individuals/ entities. Details of these FIRs are given below: Table No. 1 Sr.No.| FIR No. & | Offence Registered at Police Complainant date Station 1. [21 on | 420, 406, 467, 468, 471, 1208 | Sourabh Gupta, Director, M/s 12.01.17 IPC at Central, Faridabad Modtech Infraventure Private Ltd 2. [1080 on | 420,506,1208 IPC at Central, | Mrs Suman w/o Veer Singh 19.09.17 Faridabad, . 3.71324 on | 420,467,468,471,120B IPC at | Mr. Sanjeev Kumar 211.17 Central, Faridabad. 4. 440 on | 420,406,120B IPC at}Mr. Abnish Kumar, AR for 15.12.17 Bhupani, Faridabad residents of SRS Royal Hill Society 5. | 149 on | 420,406,467,468,471,120B [Dr Pawan Malhan, MD of 30.03.17 IPC at Sec-31 FBD eBIZ.com 6. | 591 on | 420,1208 IPC, Haryana | Doctor Anupama of Mittal 16.09.17 Protection of Interest of | Hospital, Faridabad depositors in FE Act 2013 at Sec-31 FBD A 7/20 on | 420,406, 506 & 120B IPC at | Mr. Rinku Bansal 13.01.18 Sec-31 FBD | 8. [i0 on| 420,406 IPC at Bhupani, | Mr, Shailendra Mishra, AR for 14.01.18 Faridabad SRS Peari Floors, 9. | “on | 420,1208 IPC, Section 3 of | Mn Gopal Sharma s/o Hetram (04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD TO} 7135, on | 40,1208 IPG, Section of Mr. Jitesh Kumar Aggarwal s/o 04.03, 18 Haryana Protection of Interest | Girdhari Lal ¥ 3} } of depositors in F.E ‘Act 2013 |at Sec-31 FBD Ti. pis on 1450,120B IPC, Section 3 of | Mr. Rahul Garg s/o Raj Kumar 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD 12. | 114 ‘on | 420,120B IPC, Section 3 of | Sh. Ajay Singh Bhati 04.03.18, Haryana Protection of Interest of depositors in FE Act 2013 at Sec-31 FBD 13. [11s on} 420,120B IPG, Section 3 of Sh. Parmanand S/o Sushil 04.03.18 Haryana Protection of Interest | Chand. of depositors in FE Act 2013 at See-31 FBD 14. | 116 ‘on | 420,120B IPC, Section 3 of | Sh. Mangat Ram S/o ‘Sh. Moti 04.03.18 Haryana Protection of Interest | Ram of depositors in FE Act 2013 at Sec-31 FBD 1S. | 117 on }40,120B IPC, Section 3 of| Sh. Nem Chand Goyal S/o Sh. 04.03.18 Haryana Protection of Interest | Tukaram Goyal of depositors in FE Act 2013 at See-31 FED 16. | 118 on) 420,120B IPC, Section 3 of | Sh. Dhirender Kumar 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD a7. | 119 on }420,120B IPC, Section 3 of | Mr. Kailash Chand Singla 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD18. | 120 on | 420,120B IPC, Section 3 of | Sh. Keshav Dev 04.03.18 Haryana Protection of Interest Of depositors in F.E Act 2013 at See-31 FBD 19. | 121 on | 420,120B IPC, Section 3 of | Sh. Amit Goyal and Sh. Pankaj 04.03.18 Haryana Protection of Interest | Goyal of depositors in F.E Act 2013, at Sec-31 FBD 20. | 122 on | 420,120B IPC, Section 3 of| Sh, Ramesh Garg 04.03.18 Haryana Protection of Interest of depositors in FE Act 2013 at Sec-31 FBD 21. | 123 on /420,120B IPC, Section 3 of] Sh. Prashant Tyagi 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD 22. | 124 on | 420,120B IPC, Section 3 of | Sh. Rajpal Sharma 04.03.18 Haryana Protection of Interest of depositors in FE Act 2013 at Sec-31 FBD 23. | 125 on | 420,120B IPC, Section 3 of| Sh. Nand Kishor 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013, at Sec-31 FBD 24. | 126 on) 420,120B IPC, Section 3 of Mr. Ramdhan Chug 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD 25. | 127 on | 420,120B IPC, Section 3 of | Sh. Amit Goyal 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD26. | 128 on | 420,120B IPC, Section 3 of | Sh. Sanjeev Kumar 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD a7. [129 ‘on | 420,120B IPC, Section 3 of | Sh. Ravi Soni 04.03.18 Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD 28. [130 on | 420,120B IPC, Section 3 of | Sh. Ashok Kumar 04.03.18 Haryana Protection of Interest of depositors in FE Act 2013 at Sec-31 FBD 29. | 366 on | 120B, 406, 420, 467, 468, | Sh. Krishan Veer Singh 06.04.18. 471, 506 at Central FBD 30. | 205 on | 120B,406,420 of IPC at Sec-31 | Sh. Harinder 05.04.18 FBD 31. | 206 ‘on | 120B, 406, 420 of IPC at Sec- | Sh. Om Prakash 05.04.18 31FBD 32. | 209 ‘on | 120B,406,420 of IPC at Sec-31 | Sh. Ved Prakash 06.04.18 FBD 33. [210 ‘on | 120B,406,420 of IPC at Sec-31 | Sh. Bishani Devi 06.04.18, FBD 34, | 211 ‘on | 120B,406,420 of IPC at Sec-31 | Smt Bina W/o Sh. Dharamveer 06.04.18 FBD 35. [212 ‘on | 120B,406,420 of IPC at Sec-31| Smt Kamlesh W/o Ram Lal 06.04.18 FBD Sharma 36. [213 ‘on | 120B, 406, 420 of IPC at Sec- | Sh. Mukesh Kumar 06.04.18 31 FBD37. 214 06.04.18 on 120B 406, 420 of IPC and Section 3 of Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD Sh. Sunder S/o Lilu Ram 38. 215 06.04.18 on 1208, 406, 420 of IPC and Section 3 of Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD ‘Sh. Praveen Kumar 39. 216 06.04.18 on IPC and Haryana Interest of 120B,406,420 of Section 3 of Protection of depositors in F.E Act 2013 at Sec-31 FBD Sh. Janki Prasad s/o B P Sharma 40. 217 06.04.18 on 120B,406,420 of Section 3 of IPC and Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD Sh. Devender Kumar 41, 218 06.04.18 on 120B,406,420 of IPC and Section 3 of Protection of, depositors in FE Act 2013 at Sec-31 FBD Haryana Interest of Sh, Satbir S/o Haridas 42. 219 06.04.18 on 120B,406,420 of IPC and Section 3 of Haryana Interest of depositors in FE Act 2013 at Sec-31 FBD Protection of ‘Sh. Sandeep Mittal43, | 231 ‘on | 120B,406,420 of IPC and|Sh. Brij Mohan Jain 11.04.18 Section 3 of Haryana Protection of Interest of depositors in FE Act 2013 at Sec-31 FBD 44. | 146 ‘on | 120B,406,420 of IPC and| Sh. Indersen Mangla 13.03.18 Section 3 of Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD 45. | 238 ‘on | 120B, 406, 420, 467, 468, | Sh. Kanwal Jeet Singh 13.04.18 471, 506 of IPC and Section 3 of Haryana Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD 46. | 340 ‘on | 406, 420 of IPC at Central, | Sh. Dinesh Goyal 30.03.18 Faridabad 47. | 256 ‘on | 406, 420 of IPC at Sec-31 FBD | Sh. Krishan Lal Gera (Owner and 20.04.18 Editor of Tez Tarrar News) 48. | 257 ‘on | 120B,406,420 of IPC at Sec-31 | Sh. Gurdev s/o Pyare lal 20.04.18 FBD 49. | 260 ‘on | 120B,406,420 of IPC at Sec-31 [Aman Narula AR of SRS Royal 21.04.18 FBD Hills Society 30. [179 ‘on | 120B,406,420 of IPC ai NIT, | Praveen Gupta HUF 09.05.17 Faridabad Bi. | 273 ‘on | 120B,406,420 of IPC Haryana | Mr. Abhinav Garg 26.04.18 & section 3 of Protection of Interest of depositors in F.E Act 2013 at Sec-31 FBD 52. [274 on} 406, 420, 506 of IPC at Sec-31 | Smt. Munni Rani w/o Tarachand 26.04.18" Goyal FBD53. [75 on | 420,406,409,34,120B of IPC | Mr. Amarkesh Singh, Authorized 07.05.2019 | at FOW , New Delhi Representative of — Corporate Tower Association, SRS Tower, Sector-31 Fbd. 54. [17 on | 420,406,120B of IPC at| M/s India Bulls Housing Finance 23.01.2019 | Sector-31 Faridabad Limited 2.1 Faridabad Police have initially filed 20 charge-sheets on 29.05.2018 in the FIRs bearing no. 111 to 130 dated 04.03.2018 wherein Schedule offences under Section 420, 467, 471 and 120-B of IPC were involved. 2.2 WHEREAS the Police Authorities in Faridabad have got registered several FIRs in the present case, and also filed chargesheets wherein Sections under Section 420, 467, 471 and 120-B of IPC (mentioned in the said FIRs/ Chargesheets) were found charged which are scheduled offences (listed in the PART A to the Schedule of the PMLA, 2002) for which investigation is being conducted under the provisions of Prevention of Money Laundering Act, 2002 by the Directorate of Enforcement, Chandigarh Zonal Office. Accordingly, on considering the facts and submissions available on record, an investigation has been initiated under the provisions of Prevention of Money Laundering Act, 2002 by recording an Enforcement Case Information Report bearing No. ECIR/CDZO/03/2018 dated 20.12.2018, However, the investigations in the FIRs filed by Police Authorities are continuing and under progress. 3. Brief facts of the case 3.1 Brief Summary of scheduled offence i, The accused persons/entities of SRS Group along with its other business associates hatched a conspiracy to get investments from different investors in their group companies. These persons namely Mr. Anil Jindal, Mr. Nanak Chand Tayal, Mr. Vinod Garg @ Mama, Mr. \ Bishan Bansal and others lured investors for investments with the promises of high returns.ii. iii. iv. vi. Initially, the accused persons/companies repaid the promised interest to the investors to attract more investments from them. Later on, when the investors demanded their money, SRS Group provided them plots and flats in the initial days and then started duping the investors of their money by giving Post Dated Cheques which were never honored as the same later on bounced. SRS Group owners/ promoters and associates have worked on commission basis for attracting investors to invest in the companies. Some of the commission agents were given the post of Director in the companies. The accused persons and companies got a lot of money through investment from investors in their companies and stopped repaying the interest and invested moncy. When, investors started protesting against the company, SRS group again with the intention of duping the investors, incorporated a company in the name of SRS Buildmart Pvt. Ltd on 01.10.2015. The company has net worth of Rs. 1 lakh only till now. ‘The accused persons opened bank accounts in the name of the SRS Buildmart Pvt. Ltd. in Union Bank of India, NIT Faridabad bearing account no. 354401010036468 and in Oriental Bank of Commerce, Neelam Chowk, NIT Faridabad bearing account no. 0018113104942. ‘The scrutiny of the bank account details revealed that the accused got issued 1300 cheques from Union Bank and 13,200 cheques from Oriental Bank of Commerce. Post dated cheques from 2017 to 2021-22 were issued to the investors without having any business activity and balance in the accounts of the company. The post dated cheques were issued by the then whole time Director Devendra Adhana. . During police investigation, search operation was concluded by Police on 08.03.2018 in the office premises of SRS group companies and some docuifienis av Well as computer related items were seized. 620 blank stamp papers from the year 2011 to 2017 were also seized. It indicated10 that the blank stamp papers were used for back date agreements and sale purchase papers. 3.2 On scrutiny of Chargesheets/ FIRs filed, following allegations have been observed ;- i. Several complaints were filed against Anil Jindal, Chairperson SRS Group, its Directors and employees. The complainants were lured to invest in SRS Group by investing one lakh, 10 lakh, 50 lakh or more and promised to give plots or flats at cheap prices or to give 1.5% interest per month on the invested money. ii, Complainants invested a lot of money in the said group in lieu of the promises made. In the year 2015-16, it had come to their notice that the said group of companies got investments of a huge amount from investors and was unable to repay as promised. When the investors asked the company about their investment and repayment, the company again duped the investors by giving them post dated cheques (PDC) of SRS Buildmart Pvt. Ltd., which then bounced due to insufficient funds. iii, Investigation of Police revealed that Anil Jindal incorporated a company in the name of M/s SRS Real Estate Limited on 10.10.2005 wherein Anil Jindal resigned from the post of Director in the year 2012. M/s SRS Real Estate Ltd has purchased 100% shares of M/s SRS Buildmart Pvt. Ltd. in 2015. It was scen from the documents of the companies that Anil Jindal indirectly owned M/s SRS Buildmart Pvt. Ltd. and master mind of the scam. iv. These investors were again duped by the company by giving jewellery worth Rs. 15000-20000 in place of Rs. 1 lakh which was the amount invested. v. The said company SRS Buildmart Pvt. Ltd. was formed only for duping the investors. The said company has also given/ issued 6000 cheques of Union Bank of India and Oriental Bank of Commerce,3.3 34 3.5 3.6 3.7 3.8 a signed by Devendra Adhana, Director of SRS Buildmart Pvt Ltd. ‘These cheques also bounced due to insufficient funds. And whereas, during the course of the investigation by Police ‘Authorities, additional chargesheets in the FIRs bearing Nos. 206, 209 to 219, 231, 238, 542, 340, 366, 409, 51, 205, 256, 164, 146 and 273 have been filed by them. EOW, New Delhi has also lodged an FIR bearing no. 0075 on 07.05.2019 against M/s SRS Real Infrastructure Ltd, Mr. Anil Jindal, Central bank of India, New Delhi, State Bank of India, New Delhi and others for defrauding/ cheating innocent investors/ buyers and banks to the tune of Rs. 3,00,00,00,000/- (Three hundred Crore Rupees). M/s India Bulls Housing Finance Limited has also filed one FIR bearing No. 17 dated 23.01.2019 with Police Station Sector-31 Faridabad, against M/s SRS Real Infrastructure Ltd, M/s SRS Real Estate Limited, Mr. Anil Jindal and others for defrauding the loan amount of Rs. 23 crores given to M/s SRS Real Estate Limited against the properties mortgaged with them. Based on the FIRs and chargesheets filed by Police Authorities, the accused are alleged to have committed a fraud on general public under the Section 420,120 B, 467 and 471 of the IPC which are listed in listed in the PART A to the Schedule of the PMLA, 2002. And whereas, also during further course of investigation by Faridabad Police, several new FIRs are being lodged against the accused/ individuals associated with SRS Group of Companies, Faridabad for cheating and defrauding the complainants of their investments in the SRS Group. The same will be covered in further course of investigation by the Enforcement Directorate. Further, during enquiries by Enforcement Directorate, several private as well as public banks/ financial institutions have filed complaint/ FIR against various entities/ individuals of SRS Group before Police Authorities and Central Bureau of Investigation for wilful defaults of loans té the tune of hundreds of crores and defrauding/ cheating of12 Public funds. The same will be covered in further course of investigation by the Enforcement Directorate. 4. Details of suspect/ accused/ ‘accused/ abetter/ witnes: Perusal of the documents received from Police Authorities, Faridabad, following persons were made accused in chargesheets filed by Police Authorities, Faridabad. 1. Sh. Anil Jindal S/o Sh. Giriraj Singh, CMD SRS Group, Faridabad. Ml. Nanak Chand Tayal S/o Late Sh. Lakshman Das Tayal, Former Director SRS Buildmart Pvt. Ltd., Faridabad. Ill. Bishan Bansal S/o Nanak Chand Bansal, Former Director SRS Buildmart Pvt. Ltd., Faridabad. IV. Vinod Kumar Garg S/o Late Khushal Chand. Devendra Adhana S/o Phirepal Adhana, Director SRS Buildmart Pvt. Ltd. VI. SRS Group of companies & SRS Buildmart Pvt. Ltd Faridabad. Vl. Other accused as per FIRs < Further during investigation by EOW, Police Authorities, Faridabad, they have arrested Sh. Rajesh Singla on 13.05.2018 in one FIR no. 179 of 2018 at NIT Faridabad. Accordingly, he has been chargesheeted in several FIRs. On 29.10.2019, Vinod Jindal brother of Anil Jindal has also been arrested by BOW, Faridabad Police and he is also in judicial custody. As of now, all the aforesaid accused are in Judicial Custody at District Jail, Neemka, Faridabad. Apart from these, several other accused/ co- ocused/ Abetters were also involved in criminal conspiracy and had active role-\in schedule offences registered before various police authorities.5. Properties involved in Money Laundering: B ‘The following properties / assets were found during investigation for which the investments were found to be either linked with proceeds of crime generated out of funds taken from the investors or by defrauding the banks or the same would fall within the meaning of proceeds of crime on account of these being equivalent properties in terms of its definition under Section 2(1)(u) of the PML Act, 2002: Table No. 2 Sr. ‘Owner's Name Description of | No. OfUnits/ | POC Assets Value No Property Flats/ Plots/ (In Rs.) Farm Houses & Area of Land Attached T. [M/s SRS Real Estate [SRS Royal Hills,[ 612 units 278,65,49,500 Limited Phase-Il, Sector 87, Faridabad 2. | M/s SRS Real Estate Limited SRS Deen Dayal Jan Awas Yojana, Sector 8 Palwal 15 Acre Project Land + 1 Kanal 8 Marla Agricultural Land 29,81,39,938 3. | M/s SRS Real Estate SRS _ International 13,93,18,425 Limited School, SRS Chowk, Sector 88, Faridabad 4 |M/s Mansa Real|SRS Affordable 6,79,29,975 Tech Pvt. Ltd. &|Housing Society M/s Premier Real | (SRS Palm Homes), Build Pvt. Ltd. Sector 7 of Palwal:- 3. | M/s SRS Real Estate | SRS Project, Sector | SRS City > 38 37,59,51,400 Limited 6, Paiwal units + 180 Plots ‘SRS Prime Floors 90,57,88,800 -> 149 Units SRS AGH -> 798 1,46,67,43,328 Units Total 294,84,83,528 6. | M/s SRS Real Estate | SRS Residency, 508 Units + 1 Sector 88, NS. 168,36,44,700 Limited Faridabad14 7. | M/s SRS Real Estate |SRS Royal Hills, | 1377 Units + 4,90,19,08,681 Limited Phase-I, Sector 87,| Tower-N+2P.S Faridabad +1NS 8. | M/s SRS Real Estate [SRS Pearl Floors | 567 Units + 2 P.S 162,92,89,572 Limited and Pearl Heights,| +1N.S+1C.H Sector-87, Faridabad 9. |M/s SRS Real Estate [Tower P8, Sector- 173 Units '88,49,95,900 Limited 87 Faridabad 10,| M/s SRS Real Estate | Tower P9, Sector 73 Units 37,31,26,100 Limited 88, Faridabad 11[M/s SRS Real| SRS Royal Hills, | _ 345 Units +8 40,85,93,460 Infrastructure Sector-26, Rewari | Shops + 1N.S Limited 12]M/s SRS Real| SRS Royal Hills | Land Size of 47 17,10,12,400 Infrastructure Phase- Il Sector-26, | Kanal 17 Marla Limited Rewari 13.|M/s SRS Real/ SRS Signature | Land Size of 66 3,46,87,050 Infrastructure Farms, Rohtak Kanal 10 Marla Limited 14][M/s SRS Real| SRS City Centre | Semi Constructed 38,02,86,000 Infrastructure Emerald Court, | Land of size 23 Limited Sector-5, Faridabad | Kanal 13 Marla 15.[M/s SRS Real] SRS Pearl Floors, 470 Units 160,62,05,159 Infrastructure Sector-5 Palwal Limited 16./M/s SRS Real | SRS Tower, Sector-| 252 Units 137,09,76,750 Infrastructure 31, Faridabad Limited 17|M/s SRS Real] SRS__Residential| 488 Plots + 38,78,70,000 Infrastructure Project at Raipur | Additional Land Limited Rani, Panchkula 18|M/s SRS Real | SRS Retreat Farms, | 25 Farm Houses 28,44,83,331 Infrastructure Manjhawali, Limited Faridabad 19.) M/s SRS Limited [SRS Mall, Sector- 33 Units 39,15,11,935 12, Faridabad 20.[ M/s SRS Limited | KIOSK/ Booths 26 Booths 14,75,06,299 21) M/s SRS Retreat | Agriculture Land in| Size approx. 12,29,30,948 Services Limited Gautam _ Budh | 11.95 hectares. Nagar, Greater | (29.53 acres) Noida, Uttar- Pradesh 22. M/s SRS Retreat|SRS Nest and 48,47,17,594 Services Limited Banquets Prithla, Palwal ) 2 - La23, Bimlesh Tayal w/o Nanak Chand Tayal Residential Property situated at House No. 1871, Sector-9, Faridabad built up on an area of 250 Sq. yards 15 1,03,90,600 24. Bimlesh Tayal w/o Nanak Chand Tayal Residential Property situated at House no. 202, Sector-9, Faridabad built up on an area of 500 Sq. yards 3,15,61,332 25. Uma Garg w/o Vinod Kumar Garg Residential Property situated at House No. 52 Sector-09 Faridabad built up on an area of 500 Sq. yards 3,78,69,400 26, Toshi Bansal w/o Bishan Bansal & Sanjana Bansal w/o Raju Bansal Residential Property situated at D 2-54, DLF Model Town, Sector-10, Faridabad built up on an area of 1000 Sq. yards 5,70,37,042 27, Nanak Chand Bansal Residential Property situated at House No, 122 Sector-9 Faridabad built up on an area of 500 Sq. yards 3,62,19,212 28. Piyush Singla s/o Mr. Rajesh Singla Residential Property situated at House No. 2120 Sector-9 Faridabad built up on an area of 250 Sq. yards 96,62,195 29. Rita Gare w/o Jitender Kumar Garg Residential Property situated at House No. 537 Sector-14 Faridabad built up on an area of 500 Sq. yards 2,99,64,150 30, Sangeeta Kapoor w/o Sh, Praveen Kumar Kapoor Residential Property situated at House No. 506 Sector-14 Faridabad built up on an area of 500 | Sq. yards 1,88,43,13116 31, Sangeeta _ Kapoor | Residential 1,85,45,000 w/o Sh. Praveen | Property situated at Kumar Kapoor House No. 515 Sector-14 Faridabad built up on an area of 500 Sq. yards 32.|Sangecta Kapoor | Plot of arca 626 sq. 87,72,418 w/o Sh. Praveen| yards in Mujheri Kumar Kapoor Industrial Area, Faridabad Be 33,/ Ritu Jindal w/o | Residential 3,25,00,000 Vinod Jindal & Vinod Jindal Property situated at House No. 535 Sector-14 Faridabad built up on an area of 500 Sq. yards 34, M/s Horizon Global Limited Plot No. 8, Sector- 5, Faridabad of size 3718.80 Sq. Yards 11,45,61,684 35.|M/s Horizon Global | Plot No. 9, Mujeri 2,88,69,444 Limited Industrial Area, Faridabad of size 1210 Sq. Yards 36.|M/s Horizon Global [Plot No. 786, 6,03,29,859 Limited Sector-69, IMT, Faridabad of size 4050 Sq. Mtr 37.|M/s Horizon Global | Plot No. C-100, 20,47,140 Limited Eldeco Sidcul, Sitarganj, Uttarakhand of size 1023.57 Sq. Mtr 38.|M/s SRSLimited [6 FDRs in the 4,68,69,232 name of M/s SRS Limited 39.) M/s SRS Limited | Bank Account No 9,81,83,892 35860391776 40.| M/s SRS Limited Bank Account No 47,25,822.50 35939989043 41,| M/s SRS Limited Bank Account No.- 2828 65054755412 42.| M/s SRS Limited Bank Account No.- 87,47,249 31993022615 Total 25,10,83,52,40461 62 v7 6. Modus operandi to launder the money with reference to provisions of section 3 r.w. section 2(1)(u) of PMLA. During investigation, it is revealed that Anil Jindal, CMD of SRS Group alongwith his close associates Nanak Chand Tayal @ Phoofa, Vinod Garg @ Mama and Bishan Bansal, Rajesh Singla ete. have hatched a criminal conspiracy to cheat the gullible investors. They lured investors for making huge investments with fake promises of high interests or good returns on their investments. These investments were taken either in Cash/cheques, in form of FDRs in SRS Limited and account transfers in several SRS Group concerns etc. They lured the investors by promising returns of 1.5% per month which amounts to approx. 18% per annum.This return is completely unviable as the investment scheme they portrayed to the investors was fraud investment scheme. The investors were also not well informed by them about the investment plan in which their monies were being invested. There were no written agreements made between these investors and the SRS Group. They befooled the investors as by keeping them always in dark, by giving them false and fake promises that their monies would get doubled in 3-5 years to continue taking more and more investments from these investors. It is also revealed that there are many investors who have invested huge amounts in cash in SRS Group but they have not registered the FIRs with the police authorities. It is also revealed during the investigation that SRS Group have made huge cash deposits in the bank accounts of their various shell companies as well as key companies of the Group which was the funds of these investors. ‘As stated above, by making huge deposits in the bank accounts of their group companies or shell companies they have enhanced bank balances of these companies and inflated their balance sheets. By portraying these inflated bank balances and balance sheets they have ‘ciied Getiple loans in its group companies from public as well as private setter banks.6.3 6.4 6.5 18 To sustain this model of high returns and to support and legitimize this illegal model, they involved banks to conceal their illegal source of funds. They infused the money of the banks into their fraudulent schemes. They used the funds of banks to repay the interest amount of the investors. It is also revealed during the investigation that the intention of SRS Group and its associates were malafide since inception. They have rarely paid the principal amount to the investors. ‘They always paid their interest amount and lured them for making further investments. They also misutilized these loans taken from the banks to repay the interest amount of individual as well as institutional investors SRS Group also mis-declared the purpose of taking the loans to banks. These loans were only availed by mortgaging the properties purchased by the SRS Group from the funds of these investors. The SRS Group has been projecting the properties purchased & developed from the funds of the investors as their own. The Purpose of taking these loans was portayed to the banks as construction/development of the real estate projects on these lands. But the real and ulterior motive behind availment of these loans was Tepayment of the funds of these investors and utilization of the same for their own benefits. It is also seen that Anil Jindal and his associates conspired and attracted huge investments from the institutional investors and their group companies/firms in real estate projects of SRS Group in the guise of development/ construction. These investments were done in the guise of promised good returns or cheaper rates of procurement. These institutional investors have invested huge amount from their companies in several projects of SRS Group.Their companies/firms have also signed proper agreements with SRS Group with the intention of getting good returns of their investments. But SRS group have not intentionally executed the terms and conditions as per the said agreements with these institutional investors and their group companies/ firms. It is revealed that the funds invested by these