At SRM University are you eligible for sitting in placements if you had 2 arrears and you have cleared them a year ago before placements?

Yes ofcourse you are eligible. But some core companies like Hyundai, Royal enfield, L&T, etc would ask for candidate with no history of arrears. But those are only few companies, so you don’t have to worry about getting placed in a good company. Work hard, attend placement training programs that SRM organises. Placement training programs are very useful.