Rs.2,200 Crore Fraud: Praveen Kapoor Deported from US to India, Bank Loans Worth Crores Misused!!
Praveen Kumar Kapoor, co-founder and promoter of the real estate company SRS Group, was detained at Newark International Airport in the United States. This was done based on an Interpol Red Corner Notice. He was later deported to India, the Enforcement Directorate (ED) said on Thursday.
The ED said that Kapoor was deported following the Red Corner Notice issued by Interpol at the request of the ED, Gurugram Zonal Office. His B1/B2 visa was also cancelled by the US authorities. Kapoor was denied entry at Newark Airport and sent back to New Delhi on November 2, 2025. Upon arrival, he was intercepted by the Indian authorities based on a Lookout Circular (LOC) issued by the ED.
“The Interpol Washington office informed us that the fugitive businessman, Praveen Kumar Kapoor, was travelling on October 31 to New York. The authorities at Newark International Airport stopped him based on the Interpol red notice issued earlier this year. The US government cancelled his B1/B2 visa and deported him to India the next day (November 1),” said an officer, on condition of anonymity.
A Red Corner Notice (RCN) is an international alert issued by INTERPOL to help locate and arrest a person who is wanted by a country so that they can be extradited or face legal action. It is not an arrest warrant, but a request to law-enforcement agencies worldwide to find and temporarily detain a wanted person.
Why was Praveen Kumar Kapoor Arrested by ED?
Praveen Kumar Kapoor is accused of cheating investors and banks of more than ₹2,200 crore. Officials said Kapoor is also the director of Horizon Global Limited, SRS Finance Limited, and a promoter-director of the SRS Group of Companies.
Kapoor and two other promoters of SRS Group—Jitender Kumar Garg and Sunil Jindal—had been absconding for several years. Reports say Garg and Jindal were hiding in Georgia and Dubai, respectively.
Upon arriving at Delhi’s Indira Gandhi International Airport, Kapoor was taken into custody by the Faridabad Police and is currently being interrogated. He is also being questioned about the whereabouts of Garg and Jindal. The ED is expected to take him into custody soon to investigate the alleged diversion of funds.
Earlier this year, the ED said that under the Fugitive Economic Offenders Act (FEOA), Kapoor, Garg, and Jindal had left India and were believed to be in Georgia and Dubai.
The ED’s investigation is based on 81 FIRs filed under various sections of the Indian Penal Code (IPC) in Faridabad and Delhi, as well as with the Central Bureau of Investigation (CBI). According to the ED, the SRS Group allegedly lured investors to put money into residential and commercial projects with promises of high returns. The money was later siphoned off, causing massive losses to investors.
The funds were reportedly deposited into hundreds of shell companies created by the SRS Group and later laundered. A Provisional Attachment Order of ₹2,215.98 crore has already been issued.
Kapoor also took large loans from public and private sector banks for real estate projects, but the money was allegedly diverted to his family members, partners, and companies under their control in India and abroad.
The ED said Kapoor was named as an accused in a Prosecution Complaint filed before the Special Court of PMLA, Gurugram. The court has taken cognizance, and charges are being framed against him. Non-Bailable Warrants were issued, and Kapoor was declared a Proclaimed Offender. Proceedings under the FEOA were also initiated against Kapoor, Garg, and Jindal.
The ED is working to bring back the remaining absconding promoters.
