VOI World/ Desk
Indian businessman Praveen Kumar Kapoor, formerly co-promoter of the SRS Group, has been deported from the United States to India after being stopped by U.S. immigration officials in New Jersey under an Interpol red notice. Kapoor, 62, and a resident of Faridabad, is accused of defrauding banks and investors of approximately ₹2,200 crore (around $265 million) in connection with real estate-related schemes.
Upon arrival in India, Kapoor was taken into custody and is now facing questioning in connection with charges including money-laundering, investor fraud and guarantee of large bank loans he allegedly sponsored. Investigations by the Enforcement Directorate (ED) and the Serious Fraud Investigation Office (SFIO) had previously estimated that the SRS Group owed up to ₹1,600 crore across multiple cases.
Kapoor’s legal troubles have compounded recently following his arrest at Delhi Airport, where he was reportedly detained after having been declared a fugitive for seven years. Police indicted him in a ₹30.47 crore export-benefit fraud case involving bogus foreign-inward-remittance certificates, adding to his existing fraud roster.
The arrest and deportation mark a significant moment of international cooperation in the pursuit of economic offenders. Indian authorities say the case highlights increasing scrutiny of cross-border financial crimes and could serve as a deterrent to other fugitives who assume safe haven abroad.
India’s regulatory landscape is also under the spotlight, with many observers saying the Kapoor case reinforces calls for stronger enforcement of banking guarantees, corporate accountability and export-incentive oversight. The government has signalled that this high-profile capture reflects its dedication to tracking cryptocurrency flows, shell-company funnels and other complex fraud channels connected to global finance.
