U.S. deports promoter of Indian ‘realty firm’ accused of swindling ₹2,000 crore

Praveen Kumar Kapoor, the co-founder and promoter of realty firm SRS Group, has been deported by the United States to India in a case that alleges the group cheated investors and banks to the tune of ₹2,200 crore, the Enforcement Directorate said on Thursday (November 6, 2025).

According to the agency, based on an Interpol Red Notice published at the behest of the ED, Mr. Kapoor was denied entry at Newark International Airport and his B1/B2 visa was cancelled by the U.S. authorities. He was subsequently deported to Delhi on November 2, where he was held on the basis of a ‘lookout circular’ issued by the agency.

The ED is conducting investigations under the Prevention of Money Laundering Act against the SRS Group with respect to 81 first information reports registered at various police stations across Faridabad, Delhi, and with the Central Bureau of Investigation.

“The group has been accused of cheating investors and banks to the tune of ₹2,200 crore,” said the ED, adding that the accused persons/entities lured investors promising high returns on investments in residential/commercial projects. Funds from these investments were deposited into hundreds of shell companies created by the SRS Group and subsequently laundered. A provisional attachment order for ₹2,215.98 crore has already been issued in this case,” it said.

Two others absconding

Mr. Kapoor has been absconding along with two other promoter-directors of the SRS Group, Jitender Kumar Garg, and Sunil Jindal, for several years. He was made an accused in the prosecution complaint filed by the ED before a special court in Gurugram. The court took cognisance of the prosecution’s complaint, and charges are being framed against the accused.

“The ED secured non-bailable warrants from a special court… he was subsequently declared a proclaimed offender. Proceedings under the Fugitive Economic Offenders Act were also initiated against Mr. Kapoor, Mr. Garg, and Mr. Jindal, declaring them fugitives. Efforts are underway to secure the return/extradition of the other absconding promoter-directors,” said an official.