India Extradites Two Fugitives from UAE in Fraud Cases

India’s top investigative agency announced on Saturday the arrest of two fugitives following their extradition from the UAE, marking a significant breakthrough in two major criminal cases.

Bank Fraud Case

One of the accused, Kamlesh Parekh, was arrested on May 1 for his alleged involvement in a major banking fraud linked to Kolkata-based Shree Ganesh Jewellery House (I) Ltd. According to a statement from the Central Bureau of Investigation (CBI), Parekh was detained in the UAE after an Interpol Red Notice was issued against him. Following legal arrangements between authorities in India and the UAE, Parekh was extradited and handed over to Indian officials.

Parekh has been evading investigation since the case was first registered in 2016. The CBI has accused him, alongside other promoters, of diverting funds through overseas entities and fraudulent business operations, causing substantial financial damage to a consortium of banks led by the State Bank of India (SBI).

The CBI’s Bank Securities and Fraud Branch (BSFB) in Kolkata had earlier booked Shree Ganesh Jewellery House (I) Ltd and its promoters for allegedly defrauding 25 banks of Rs226,720 million (approximately Dh10 billion). Authorities formally charged Parekh on December 31, 2022, and a non-bailable warrant (NBW) was issued against him in 2019 after he failed to cooperate with investigators.

Following his extradition, Parekh is set to appear before a competent court in New Delhi on May 2 for transit remand, after which he will be taken to Kolkata for further legal proceedings.

Passport Scam

In a separate case, the CBI secured the extradition of Aalok Kumar, alias Yashpal Singh, from the UAE. Kumar is alleged to be a key conspirator in a well-organized racket that used fraudulent means to obtain Indian passports. His case was registered by Haryana Police, and he arrived in Mumbai on May 1, where he was taken into custody.

Kumar is accused of facilitating individuals with criminal backgrounds in acquiring passports using forged documents and fictitious information. Authorities allege he coordinated illegal activities and oversaw the immigration of individuals using fabricated identities and addresses.

A Red Notice had been issued against Kumar by Interpol, following a request from Haryana Police. UAE authorities arrested him and approved his extradition after completing the necessary legal formalities.

These arrests underscore the growing cooperation between India and the UAE in tracking and apprehending individuals involved in financial and criminal activities across borders. Both Parekh and Kumar will now face trial as Indian authorities continue to take decisive action against economic and criminal offenders.