The Central Bureau of Investigation (CBI) has successfully secured the extradition of fugitive businessman Kamlesh Parekh from the United Arab Emirates (UAE) in connection with a large-scale banking fraud case involving alleged financial losses worth hundreds of crores of rupees. The operation was completed on May 1, 2026, after sustained coordination between Indian agencies and UAE authorities. Officials described the extradition as a significant breakthrough in a long-running economic offences investigation.
According to the CBI, the extradition process was carried out in close coordination with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA). Parekh was brought back to India after an Interpol Red Notice was actively pursued and acted upon by international law enforcement channels. The agency said that UAE authorities detained the accused following India’s formal request, and he was later handed over after completion of legal and procedural requirements.
The case against Parekh pertains to a major banking fraud involving a consortium of banks led by the State Bank of India (SBI). Investigators allege that he, along with other promoters and directors, conspired to siphon off bank funds through a complex network of overseas entities and business channels. These funds were allegedly routed through multiple jurisdictions, including operations based in the UAE, making the case a cross-border financial crime investigation.
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The CBI further stated that the accused and his associates allegedly used fraudulent financial practices, including manipulation of accounting records, creation of shell entities, and misuse of banking systems to divert funds. These transactions, according to the agency, were structured in a way to obscure the movement of money and conceal the actual beneficiaries. The estimated financial impact of the alleged fraud runs into several hundred crores, affecting multiple lending institutions.
After his detention in the UAE, Parekh was officially handed over to Indian authorities following due legal proceedings under international extradition norms. He arrived in New Delhi on May 1, where he was taken into custody by the CBI’s Bank Securities and Fraud Branch (BSFB), Kolkata. Officials confirmed that he will now face further legal proceedings in India as part of the ongoing investigation into the case.
The CBI also highlighted that it functions as India’s National Central Bureau for INTERPOL and regularly coordinates with global agencies through platforms such as BHARATPOL. It added that in recent years, more than 150 wanted fugitives have been brought back to India through similar international cooperation efforts. The agency said the latest extradition underscores its continued focus on tracking and bringing back economic offenders who attempt to evade Indian law enforcement by fleeing abroad.
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