CBI extradites Kamlesh Parekh from UAE
Rs 2,672 crore bank fraud case
The Central Bureau of Investigation (CBI), in close coordination with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), successfully brought back wanted fugitive Kamlesh Parekh from the United Arab Emirates (UAE) to India on Friday, May 1, 2026. Officials described the operation as a major success under Interpol’s Red Corner Notice framework.
Parekh’s extradition is part of the CBI’s ‘Operation Global Hunt’, which has brought back over 150 wanted criminals in recent years through international cooperation.
Parekh, a promoter of the Kolkata-based ‘Shree Ganesh Jewellery House (I) Ltd’, faces charges in a massive banking fraud involving losses of Rs 2,672 crore to a consortium of 25 banks, led by the State Bank of India (SBI).
The CBI alleges that Parekh and other promoters, including his brothers, obtained loans using forged and fabricated documents. They allegedly diverted funds through overseas entities in Hong Kong, Singapore and the UAE, manipulating transactions to siphon off the money. The company, once a prominent jewellery exporter, collapsed under the weight of the scam, leaving public sector banks with huge non-performing assets.
Parekh was on the run ever since the case surfaced around 2016-17. An open-ended non-bailable warrant was issued against him in 2019, and he was declared a ‘Fugitive Economic Offender’. A Red Corner Notice was issued through Interpol, prompting sustained diplomatic and law-enforcement efforts between India and the UAE. Following due legal process, the UAE authorities granted extradition. Parekh arrived in Delhi on May 1 and was immediately taken into custody by the CBI’s Bank Securities and Fraud Branch (BSFB), Kolkata.
The development is seen as a strong message against economic offenders who flee abroad to evade justice. CBI officials said the agency remains committed to tracing and repatriating more fugitives involved in financial crimes. Parekh’s return is expected to strengthen the ongoing probe and aid recovery efforts for the defrauded banks.
