Daijiworld Media Network - New Delhi

New Delhi, May 2: The Central Bureau of Investigation has successfully extradited wanted fugitive Kamlesh Parekh from the United Arab Emirates in connection with a large-scale banking fraud involving losses running into hundreds of crores.

In an official statement, the agency said the extradition was carried out in coordination with the Ministry of External Affairs and the Ministry of Home Affairs, with Parekh being brought back to India on May 1.

The accused is linked to a case involving financial irregularities that impacted a consortium of banks led by the State Bank of India. Investigators allege that Parekh, along with other promoters and directors, diverted bank funds through a network of overseas entities, including operations based in the UAE.

According to the CBI, the fraud involved manipulation of financial transactions and misuse of banking channels to siphon off funds.

Parekh was tracked through a Red Notice issued by INTERPOL and was detained by UAE authorities following India’s request. After completing legal procedures and coordination between both countries, he was handed over to Indian officials.

Upon arrival in New Delhi, he was taken into custody by the CBI’s Bank Securities and Fraud Branch in Kolkata for further investigation.
The agency also highlighted its broader efforts in tracking fugitives abroad, stating that over 150 wanted individuals have been brought back to India in recent years through international cooperation mechanisms.