![\"CBI](\"https:\/\/static.toiimg.com\/thumb\/msid-130712593,imgsize-30486,width-400,height-225,resizemode-72\/kamlesh-parekh.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nNEW DELHI: The Central Bureau of Investigation (CBI), in coordination with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), has successfully secured the extradition of Red Notice accused Kamlesh Parekh from the United Arab Emirates (UAE) to India.According to the CBI, Parekh is wanted in connection with a large-scale banking and financial fraud case that caused losses of hundreds of crores to a consortium of banks led by the State Bank of India (SBI). “The accused, in conspiracy with other promoters and directors, facilitated diversion of bank funds through a network of overseas entities and business activities, including in the UAE, while actively managing export-related operations and financial transactions of the company and its associated entities abroad by using fraudulent practices such as manipulation of financial transactions and misuse of banking channels,” according to an official statement. Based on an Interpol Red Notice, the accused was traced to the United Arab Emirates (UAE). “Upon India’s request, the subject was detained by UAE authorities. Following due legal proceedings and close coordination between Indian and UAE authorities, it was decided to hand over the subject to Indian authorities,” the statement added. Parekh arrived in Delhi on May 1, where he was taken into custody by the CBI\u2019s Bank Securities and Fraud Branch (BSFB), Kolkata.(With agency inputs)<\/span><\/div>\n<\/div>\n