India arrests 2 extradited from UAE in major bank fraud and passport scam

India’s top investigative agency on Saturday announced the arrest of two wanted fugitives after it secured his extradition from the UAE.

One of the accused, Kamlesh Parekh is wanted for a major banking fraud case linked to Kolkata-based Shree Ganesh Jewellery House (I) Ltd.

The Central Bureau of Investigation (CBI), in an official statement, said that Kamlesh was taken into custody on May 1 after he was detained by UAE authorities. Acting on an Interpol Red Notice, Kamlesh was traced to the UAE, where local authorities detained him. After completing legal formalities between Indian agencies and UAE authorities, the fugitive was handed over to Indian officials.

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

Major bank fraud

Kamlesh had been evading investigation since the case was first registered in 2016. He was wanted in a case involving massive financial irregularities affecting a consortium of banks led by the State Bank of India (SBI). According to the CBI, the accused, along with other promoters, diverted funds through a network of overseas entities and business operations.

The CBI’s Bank Securities and Fraud Branch (BSFB) in Kolkata had booked the company and its promoters for allegedly defrauding a consortium of 25 banks of Rs226,720 million (approximately Dh10 billion).

According to authorities, Kamlesh was formally charged on December 31, 2022. A non-bailable warrant (NBW) had been issued against him as early as 2019, after he failed to cooperate with investigators.

Kamesh will be produced before a competent court in New Delhi on May 2 for transit remand. He will subsequently be taken to Kolkata to face further legal proceedings.

Passport scam

These cases highlight the cooperation between Indian and UAE authorities in tracking and extraditing economic and criminal offenders.

In another case, the CBI also secured the extradition of Aalok Kumar, alias Yashpal Singh, from the UAE.

Aalok was wanted for offences including cheating, forgery, criminal conspiracy and use of forged documents for obtaining passports fraudulently. His case was registered by Haryana Police and was brought to India on May 1.

He is alleged to be a key conspirator in an well-organised racket that facilitated individuals in obtaining Indian passports using forged documents and false information.

Several individuals with criminal antecedents were allegedly facilitated by the accused in obtaining passports using fabricated identities and addresses. The accused also played a significant role in coordinating illegal activities and managing the immigration of such individuals.

A Red Notice was issued against him through Interpol at the request of Haryana Police. He was subsequently traced and arrested by UAE authorities, following which an extradition request was submitted.

After completion of legal formalities, UAE authorities approved the extradition and handed him over to Indian officials. He arrived in Mumbai on May 1 and was taken into custody by Haryana Police.