CBI Arrests Fugitive Kamlesh Parekh in ₹2,672 Crore Bank Fraud After UAE Extradition
CBI arrests Kamlesh Parekh after extradition from UAE in Rs 2,672 cr bank fraud case
The Economic Times
Image: The Economic Times
Kamlesh Parekh, the promoter of Shree Ganesh Jewellery House (I) Ltd in Kolkata, was arrested by India's Central Bureau of Investigation (CBI) following his extradition from the UAE. He is implicated in a ₹2,672 crore ($321 million USD) bank fraud case involving a consortium of 25 banks.
- 01Kamlesh Parekh was extradited from the UAE to India.
- 02He is accused of a ₹2,672 crore ($321 million USD) bank fraud.
- 03The fraud case involves Shree Ganesh Jewellery House (I) Ltd in Kolkata.
- 04A non-bailable warrant was issued against him in 2019.
- 05Parekh had been absconding since the investigation began in 2016.
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Kamlesh Parekh, a fugitive wanted in a ₹2,672 crore ($321 million USD) bank fraud case, was arrested by the Central Bureau of Investigation (CBI) after being extradited from the United Arab Emirates (UAE). The case involves allegations against Shree Ganesh Jewellery House (I) Ltd, based in Kolkata, for cheating a consortium of 25 banks. The CBI registered the case in 2016, and Parekh had been on the run since then. A non-bailable warrant was issued against him in 2019, and a Red Corner Notice was issued through Interpol in 2024, leading to his detention in the UAE. Following this, he was extradited to India, where the CBI has now taken him into custody.
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The arrest of Kamlesh Parekh may restore some confidence among the banking sector and affected financial institutions, as it demonstrates the government's commitment to tackling financial fraud.
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