ED starts restitution of flats worth Rs 20 cr to cheated Gurugram buyers

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The story "ED starts restitution of flats worth Rs 20 cr to cheated Gurugram buyers" was covered 9 hours ago by Business Standard, a news publisher based in India.

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ED starts restitution of flats worth Rs 20 cr to cheated Gurugram buyers - Business Standard

Quick Summary:

The process to restitute 78 flats of genuine homebuyers in these SRS projects has been initiated following the Appellate Tribunal, instituted under the Prevention of Money Laundering Act (PMLA), issuing an order on August 12 allowing the ED to return these flats worth a total Rs 20.15 crore to their rightful claimants.

The Enforcement Directorate has initiated the process of restitution of flats worth more than Rs 20 crore to homebuyers of a Gurugram realty project who were allegedly cheated by the builder company, official sources said Wednesday.

The case pertains to flats constructed by the SRS Group as part of projects like SRS Pearl, SRS City and SRS Prime.