REGULATORY · INDIA
ED restores ₹650 crore properties to homebuyers
Change
Enforcement Directorate restored immovable properties worth ₹650 crore to 2,312 homebuyers.
Why it matters
Enforcement Directorate prosecuted the Faridabad-based SRS group under the Prevention of Money Laundering Act for alleged cheating and defrauding investors, homebuyers and banks of ₹2,216 crore. ED restored immovable properties worth ₹650 crore to 2,312 homebuyers and is verifying remaining claims from homebuyers, banks and other institutions. Prosecution proceedings are continuing before a special court; ED is taking steps for attachment, recovery and confiscation of proceeds of crime. ED secured non-bailable warrants, detained one accused who was brought to India on November 1, 2025 and lodged in Neemka Jail, Faridabad, and has initiated extradition proceedings for a co-accused reported to be in Georgia.
Implications
- · Special court prosecution under the PMLA continues with attachment, recovery and confiscation actions underway.
- · Verification of remaining homebuyer and bank claims will determine which assets and claims enter formal recovery or restitution processes.
- · Non-bailable warrants, detention and initiated extradition procedures enforce custody and cross-border return of named accused.
Who is affected
- · Homebuyers with restored properties
- · Public and private sector banks that lodged claims
- · PMLA investigators and special court prosecutors
- · Accused principals and co-accused
What to watch
- · Further special court proceedings on attachment, recovery and confiscation
- · Extradition proceedings for the co-accused reported in Georgia
Source
Topics
Law & Public Safety Regulatory Actions Compliance Criminal Justice