In a significant move under India-UAE security cooperation, the Central Bureau of Investigation (CBI), in coordination with the Ministry of External Affairs and Ministry of Home Affairs, secured the extradition of fugitive Kamlesh Parekh from the United Arab Emirates on May 1, 2026.
Parekh, a promoter of Shree Ganesh Jewellery House (I) Ltd., was wanted in a high-value banking fraud case involving losses of ₹2,672 crore to a consortium of 25 banks led by the State Bank of India.
The case, registered by CBI’s Bank Securities and Fraud Branch (BSFB), Kolkata, in 2016, alleged that Parekh and other accused diverted bank funds through overseas entities, including operations in the UAE, using fraudulent financial practices and misuse of banking channels.
Absconding since the investigation began, Parekh was chargesheeted in December 2022. A non-bailable warrant was issued against him in 2019, followed by an Interpol Red Corner Notice in 2024. He was located and detained in the UAE based on the notice.
After legal proceedings and coordination between Indian and UAE authorities, Parekh was extradited and brought to Delhi, where he was taken into custody by CBI. He is scheduled to be produced before a Delhi court on May 2 for transit remand and will subsequently be taken to Kolkata for further legal proceedings.
