CBI Arrests Kamlesh Parikh in ₹2,600 Crore Bank Fraud Case After Extradition from UAE
In a significant development in a long-running financial fraud case, the Central Bureau of Investigation (CBI) has arrested Kamlesh Parikh, a key accused in a bank fraud exceeding ₹2,600 crore.
The arrest follows his extradition from the United Arab Emirates, where he had been evading authorities for nearly ten years.
Officials said that Parikh is the promoter of Ganesh Jewellery House Limited, a Kolkata-based firm. He is accused of masterminding a large-scale loan fraud along with several associates.
The group allegedly misused credit facilities provided by a consortium of banks led by the State Bank of India. The fraud is estimated to have caused losses of around ₹2,672 crore, impacting nearly 25 banks.
The case was registered in 2016 by the CBI’s Bank Securities and Fraud Branch (BSFB) in Kolkata.
Soon after the investigation began, Parikh fled India and remained out of reach of law enforcement agencies.
Based on India’s request, authorities in the UAE detained him. After legal proceedings and approval of the extradition, he was brought back to India on Friday.
He was arrested upon arrival at Delhi airport by officials from the CBI’s Kolkata BSFB unit.
According to officials, he will be produced before a competent court in Delhi, after which he will be taken to Kolkata for further investigation and legal proceedings.
The arrest marks a key step in India’s efforts to bring back economic offenders who flee abroad and reinforces international cooperation in tackling financial crimes.
