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SRS Scam- After the arrest of Praveen Kumar Kapoor, SARS scam is once again in the news. In this scam that came to light in 2015, the hard-earned money of thousands of people was lost.
New Delhi. The Enforcement Directorate (ED) has extradited group co-founder and promoter Praveen Kumar Kapoor, accused in the Rs 2200 crore SRS scam, to India from the US. This action has been taken on the basis of Red Corner Notice of Interpol. Kapoor was stopped by the US authorities at Newark International Airport in New Jersey and his B1/B2 visa was cancelled. After this, on 2 November 2025, he was sent to New Delhi, where he was taken into custody under the lookout circular issued by ED Gurugram Zonal Office. SRS Group was started in Faridabad by Anil Dr. Anil Jindal, Jitendra Kumar Garg, Sunil Jindal and Praveen Kumar Kapoor.
The group first built SRS Mall in Faridabad. As success gained momentum, the group rapidly expanded its business and expanded its footprint into many areas. These include SRS Cinema, SRS Real Infrastructure, Jewelery Business and residential and commercial projects. Gradually the group became one of the big names in the world of real estate.
How did Lutiya drown?
Big projects required huge capital. Therefore, money was taken from the people of Faridabad-Palwal on huge interest. As long as the real estate market was in decline, the company kept paying interest easily. The market recession and difficulties of 2007–08 began. The real estate downturn shook the company’s foundation. It became difficult to pay the interest. Promises to investors were not fulfilled.
In November 2015, the company suddenly stopped returning the money. People became worried even about the principal amount. There were many people who out of greed sold their shops and houses and invested their life savings in SRS Group. There is no official data available on how many people had invested how much money in SRS Group. But according to the documents presented by the SRS Victims Forum, Rs 12,000–15,000 crore of the general public is stuck in SRS.
Canara Bank also lost money
SRS Group had taken a loan of Rs 104 crore from Canara Bank to set up a residential project named SRS Royal Hills in Greater Faridabad. When the group failed to repay this loan, the bank pasted a possession notice on the society. SRS took the entire money from the flat owners but did not repay the loan taken from the bank. In this matter, Canara Bank has issued notice to 1200 flat owners, even though there is no fault of the flat owners.
81 FIRs have been registered
After all this, ED entered this scam. ED had started money laundering investigation against SRS Group. It is based on 81 FIRs registered in Delhi, Faridabad and CBI. In these FIRs, promoters Anil Dr. Anil Jindal, Jitendra Kumar Garg, Sunil Jindal and Praveen Kumar Kapoor were made accused. Jindal was arrested by the ED, but the other three absconded. Now Praveen Kumar has come under the custody of ED.
