Indian Real Estate Promoter Deported From US After ED Action Over Rs 2,200 Crore Scam

Final Up to date:November 06, 2025, 23:33 IST

Praveen Kumar Kapoor, the co-founder and promoter of a realty agency SRS group, was accused of defrauding traders and banks of Rs 2,200 crore.

The ED took motion after 81 FIRs had been filed in opposition to Kapoor and SRS Group | Consultant picture

Praveen Kumar Kapoor, the co-founder and promoter of an actual property agency in India, has been deported from the USA in reference to a Rs 2,200 crore rip-off, after a Purple Nook Discover was issued by Interpol on the behest of the Directorate of Enforcement (ED).

Based on an ED assertion, Kapoor was denied entry at Newark Worldwide Airport, US and his B1/B2 visa was cancelled by American authorities after the Interpol issued a Purple Nook Discover in opposition to him on the behest of the company’s Gurugram Zonal Workplace.

Kapoor, the co-founder and promoter of SRS group, a realty agency, has been accused of dishonest greater than Rs 2,200 crore from traders and banks. He was deported again to New Delhi on November 2 and was intercepted on the idea of a Lookout Round (LOC) issued by the ED.

ED’s cash laundering probe in opposition to the SRS group got here after 81 FIRs registered underneath varied sections of the Indian Penal Code (IPC), 1860, at police stations throughout Faridabad, Delhi, and by the Central Bureau of Investigation (CBI). The group was accused of defrauding traders and banks.

Based on the probe company, Kapoor allegedly lured traders with guarantees of excessive returns on investments in residential and business initiatives. The funds had been routed by means of lots of of shell corporations and later laundered. A Provisional Attachment Order value Rs 2,215.98 crore was hooked up by the ED on this case.

Kapoor, together with SRS co-promoters Jitender Kumar Garg and Sunil Jindal, had been evading investigation for a number of years and absconding. He was named as an accused within the grievance filed earlier than the particular PMLA court docket in Gurugram.

Quickly thereafter, non-bailable warrants had been issued in opposition to Kapoor, and he was declared a Proclaimed Offender by the court docket. The company had additionally initiated proceedings underneath the Fugitive Financial Offenders Act (FEOA) to declare Kapoor, Garg, and Jindal as fugitive financial offenders.

In the meantime, the ED is continuous efforts to safe the return of the remaining promoters which are presently absconding, and additional investigation is underway.

(with inputs from ANI)

Aveek Banerjee

Aveek Banerjee is a Senior Sub Editor at News18. Based mostly in Noida with a Grasp’s in International Research, Aveek has greater than three years of expertise in digital media and information curation, specialising in worldwide…Learn Extra

Aveek Banerjee is a Senior Sub Editor at News18. Based mostly in Noida with a Grasp’s in International Research, Aveek has greater than three years of expertise in digital media and information curation, specialising in worldwide… Learn Extra

Learn Extra