Extradited Fugitive in ₹2,672-Crore Bank Fraud Case

The Central Bureau of Investigation (CBI) has successfully brought back two wanted individuals from the United Arab Emirates (UAE), including Kamlesh Parekh, who is accused in a major bank fraud case involving ₹2,672 crore.
Kamlesh Parekh, a promoter of Shree Ganesh Jewellery House (India) Ltd., based in Kolkata, was wanted by Indian authorities for his alleged involvement in cheating a group of 25 banks led by the State Bank of India (SBI).
According to investigators, Parekh played a major role in financial irregularities linked to the jewelry company, which reportedly caused huge losses to several public and private sector banks.
The CBI arrested him in the UAE and brought him back to India on May 1 as part of ongoing efforts to prosecute those involved in large-scale economic offenses.
Officials say the case is related to fraudulent loans, misuse of banking funds, and financial misconduct carried out through the company’s operations.
This successful extradition is considered a major step in India’s fight against economic crimes and financial fraud. It also highlights growing international cooperation between India and the UAE in tracking down fugitives and ensuring they face legal proceedings.
The return of the accused is expected to strengthen the investigation and legal process in one of the country’s significant banking fraud cases.