CBI extradites bank fraud accused Kamlesh Parekh from UAE
The Central Bureau of Investigation (CBI) has successfully extradited Kamlesh Parekh, a key accused in a ₹2,672 crore bank fraud case, from the UAE. Parekh, a promoter of Shree Ganesh Jewellery House, is alleged to have conspired with others to divert bank funds through overseas entities. This extradition is part of a larger effort by Indian agencies to bring economic offenders back to India.
Key Highlights
- Kamlesh Parekh extradited from UAE to India by CBI.
- Accused in ₹2,672 crore bank fraud case linked to Shree Ganesh Jewellery House.
- Parekh allegedly diverted bank funds through overseas entities.
- Extradition facilitated by Interpol Red Notice and bilateral cooperation.
- Aalok Kumar also extradited for passport fraud.
- Over 150 wanted criminals returned to India in recent years.
In a significant development for Indian law enforcement, the Central Bureau of Investigation (CBI) has successfully orchestrated the extradition of Kamlesh Parekh, a key figure implicated in a massive ₹2,672-crore bank fraud case, from the United Arab Emirates (UAE) to India. Parekh, identified as a promoter of Kolkata-based Shree Ganesh Jewellery House (I) Ltd., was brought back to India on May 1, 2026, and subsequently taken into custody by the CBI's Bank Securities and Fraud Branch in Kolkata. The case involves allegations of cheating a consortium of 25 banks, led by the State Bank of India (SBI), to the tune of ₹2,672 crore.
The CBI's investigation reveals that Parekh, in conspiracy with other promoters and directors of Shree Ganesh Jewellery House, allegedly facilitated the diversion of bank funds. This diversion is said to have occurred through a network of overseas entities and business activities, including operations within the UAE. Parekh is accused of actively managing the company's export-related operations and financial transactions abroad through fraudulent practices, such as the manipulation of financial transactions and the misuse of banking channels. The CBI registered the case in 2016, and a chargesheet was filed on December 31, 2022.
The extradition of Kamlesh Parekh was made possible through a coordinated international effort involving the CBI, the Ministry of External Affairs (MEA), and the Ministry of Home Affairs (MHA). An Interpol Red Notice was instrumental in tracing and locating Parekh in the UAE. Following India's request, UAE authorities detained Parekh. After due legal process and close coordination between Indian and UAE law enforcement agencies, the UAE granted his extradition to India.
This operation is part of a broader initiative by Indian agencies to combat economic offenses and organized crime that transcend national borders. The CBI highlighted that over 150 wanted criminals have been brought back to India in recent years through Interpol channels and coordinated diplomatic engagements, underscoring a sustained effort to strengthen international cooperation in criminal matters.
In a separate but simultaneous operation, the CBI also coordinated the extradition of Aalok Kumar, also known as Yashpal Singh, from the UAE. Kumar was wanted by the Haryana Police in connection with a passport fraud racket. He is accused of being a key conspirator in an organized racket involved in procuring Indian passports using forged documents and false information, allegedly facilitating individuals with criminal antecedents. Kumar was apprehended in the UAE following an Interpol alert and subsequently extradited to India, where he was taken into custody by the Haryana Police in Mumbai.
The successful extraditions of both Parekh and Kumar signify a significant win for India in its pursuit of fugitives and highlight the effectiveness of international cooperation and the utilization of Interpol mechanisms. These operations demonstrate a commitment to bringing individuals accused of serious financial and criminal offenses to justice, regardless of their location abroad.
This news is of high importance and urgency due to the significant financial fraud involved and the successful extradition of fugitives, which has national and international implications for law enforcement and economic crime prevention. The story is specific to India and the UAE.
Frequently Asked Questions
Who is Kamlesh Parekh and why was he extradited?
Kamlesh Parekh is a promoter of Shree Ganesh Jewellery House (I) Ltd. and was wanted in India for his alleged involvement in a ₹2,672 crore bank fraud case. He was extradited from the UAE to India on May 1, 2026, to face charges of cheating a consortium of banks and diverting funds through overseas entities.
What is the total amount involved in the bank fraud case?
The bank fraud case involving Kamlesh Parekh and Shree Ganesh Jewellery House (I) Ltd. is alleged to have caused losses to the tune of ₹2,672 crore to a consortium of 25 banks led by the State Bank of India.
What role did Interpol play in the extradition?
Interpol issued a Red Notice against Kamlesh Parekh, which helped in tracing and locating him in the UAE. This notice was crucial for the UAE authorities to detain him and proceed with the extradition process.
Who is Aalok Kumar and what was his alleged crime?
Aalok Kumar, also known as Yashpal Singh, was extradited from the UAE to India in connection with a passport fraud racket. He is accused of being a key conspirator in an organized racket that procured Indian passports using forged documents and false information, potentially facilitating individuals with criminal backgrounds.
How many wanted criminals have been brought back to India recently?
The CBI stated that over 150 wanted criminals have been brought back to India in recent years through Interpol channels and coordinated diplomatic engagements.
