Overview
- Praveen Kumar Kapoor was denied entry at Newark, had his B1/B2 visa cancelled, and was deported to New Delhi on November 2 where he was intercepted on an ED lookout circular.
- The ED’s case aggregates 81 FIRs filed in Faridabad and Delhi police stations and with the CBI alleging cheating of investors and banks of about Rs 2,200 crore.
- Investigators say SRS Group lured investors with promises of high returns and routed the money through hundreds of shell companies before laundering it.
- The special PMLA court in Gurugram has taken cognisance of the prosecution complaint, issued non-bailable warrants, declared Kapoor a proclaimed offender, and is framing charges.
- The ED has provisionally attached assets worth Rs 2,215.98 crore and is pursuing the return or extradition of co-promoters Jitender Kumar Garg and Sunil Jindal.