New Delhi, May 2: The Central Bureau of Investigation (CBI) has achieved a significant breakthrough in a banking and financial fraud case. Fugitive Kamlesh Parekh has been extradited from the United Arab Emirates (UAE) to India.
He was brought back on May 1. Upon arrival in Delhi, the CBI took him into custody. This operation was carried out in collaboration with the Ministry of External Affairs and the Ministry of Home Affairs.
Kamlesh Parekh was subject to an Interpol Red Notice, which led to his identification in the UAE. Following India’s request, local agencies apprehended him. After completing legal procedures and coordination between India and the UAE, he was handed over to Indian authorities.
Parekh is accused of large-scale banking and financial fraud, causing significant losses amounting to hundreds of crores of rupees to a consortium of banks led by the State Bank of India (SBI). Investigations revealed that Parekh, along with other promoters and directors, diverted bank funds through companies operating abroad.
Reports indicate that he employed fraudulent methods in his business activities and export operations in the UAE and other countries. This included manipulating financial transactions and misusing banking channels.
The CBI, which operates as the National Central Bureau for Interpol in India, coordinates with all law enforcement agencies through the ‘Bharatpol’ platform. This collaboration has facilitated the return of over 150 wanted criminals to India via Interpol channels in recent years.
This recent action is seen as another example of strong international cooperation among agencies.
My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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