CBI Secures Extradition of Fugitive Kamlesh Parekh in Major Banking Fraud Case

The Central Bureau of Investigation (CBI) has successfully extradited Kamlesh Parekh from the UAE to India. Parekh is accused of large-scale banking fraud involving crores, orchestrated through a network of overseas entities. He arrived in Delhi on May 1 and was taken into custody by CBI authorities.

The Central Bureau of Investigation (CBI), in close collaboration with the Ministry of External Affairs and the Ministry of Home Affairs, has achieved a significant breakthrough in a high-profile banking fraud case by extraditing Kamlesh Parekh from the United Arab Emirates to India.

Parekh is implicated in a colossal banking fraud case that led to the loss of hundreds of crores for a consortium of banks led by the State Bank of India. He allegedly conspired with other promoters and directors to divert bank funds through a network of overseas entities, conducting fraudulent export operations and financial dealings, especially in the UAE.

The extradition follows a Red Notice by Interpol and extensive coordination between Indian and UAE authorities. Parekh was captured upon India's request and, following UAE's due legal process, was handed over to Indian officials. He arrived in Delhi on May 1, where he was taken into custody by the CBI's Bank Securities and Fraud Branch, Kolkata.