CBI Arrests Bank Fraud Accused
The Central Bureau of Investigation has arrested Kamlesh Parekh, an accused in a ₹2,672 crore bank fraud case, after he was extradited from the United Arab Emirates and brought back to India.
CBI Arrests Kamlesh Parekh After UAE Extradition
Kamlesh Parekh was brought to Delhi on May 1 after Indian authorities secured his extradition from the UAE. He was wanted in connection with a major bank fraud case linked to Shree Ganesh Jewellery House (India) Ltd.
The case involves allegations of cheating a consortium of 25 banks led by the State Bank of India.
₹2,672 Crore Bank Fraud Case
According to the case details, Parekh and other accused persons allegedly caused wrongful loss to banks by availing credit facilities through fraudulent means. The company and its promoters have been accused of diverting funds and failing to repay loans.
The case was registered by the CBI after complaints from the banking consortium. The accused had been facing investigation for alleged criminal conspiracy, cheating and financial irregularities.
Fugitive Brought Back From UAE
Parekh had been absconding and was located in the UAE following coordination between Indian agencies and international authorities. His extradition is being seen as part of India’s broader effort to bring back fugitives wanted in financial crime cases.
The CBI said the action was carried out through close coordination with the Ministry of External Affairs and authorities in the UAE. Further investigation in the case is continuing.
