CBI secures extradition of fugitive Kamlesh Parekh from UAE in major bank fraud case

New Delhi: The Central Bureau of Investigation (CBI) has successfully secured the extradition of wanted fugitive Kamlesh Parekh from the United Arab Emirates, in connection with a major banking fraud case involving losses of hundreds of crores.

In an official statement, the agency said, “The Central Bureau of Investigation (CBI), in coordination with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), has successfully secured the extradition of Red Notice subject Kamlesh Parekh from the United Arab Emirates (UAE) to India on 01.05.2026.”

Parekh was wanted in a case involving large-scale financial irregularities affecting a consortium of banks led by the State Bank of India (SBI). According to the CBI, the accused, along with other promoters and directors, allegedly diverted bank funds through a network of overseas entities and business operations, including in the UAE.

The agency further noted, “The accused in conspiracy with other promoters and directors, facilitated diversion of bank funds through a network of overseas entities… by using fraudulent practices such as manipulation of financial transactions and misuse of banking channels.”

Acting on an Interpol Red Notice, Parekh was traced to the UAE, where local authorities detained him following India’s request. After completion of legal formalities and coordination between Indian agencies and UAE authorities, he was handed over to Indian officials.

The statement added, “Following due legal proceedings and close coordination between Indian and UAE authorities it was decided to hand over the subject to Indian authorities.” Parekh arrived in Delhi on May 1 and was taken into custody by the CBI’s Bank Securities and Fraud Branch (BSFB), Kolkata.

Highlighting broader efforts, the agency said it works as India’s National Central Bureau for INTERPOL and coordinates through BHARATPOL. It added that more than 150 wanted criminals have been brought back to India in recent years through such international cooperation.

IANS