CBI nabs absconding accused in Rs 2672 Cr bank fraud case
New Delhi: In a significant breakthrough, the Central Bureau of Investigation (CBI) has successfully apprehended Kamlesh Parekh, the absconding promoter of Shree Ganesh Jewellery House (I) Ltd., Kolkata, in connection with a massive Rs 2672 crore bank fraud case. Parekh was arrested after being extradited from the UAE on May 1, 2026.
The case, which was first registered by CBI's Bank Securities & Fraud Branch (BSFB) in 2016, revolves around allegations of cheating a consortium of 25 banks. The accused company, Shree Ganesh Jewellery House, allegedly siphoned off huge sums through fraudulent means, causing significant financial losses to the banking sector.
Kamlesh Parekh, who was named in the CBI chargesheet on December 31, 2022, had been evading arrest for years. A non-bailable warrant (NBW) had been issued against him in 2019, and an international Red Corner Notice (RCN) was also put out through INTERPOL in 2024. Parekh was finally detained by UAE authorities based on the RCN and has now been extradited back to India.
The accused is set to appear before a competent court in New Delhi today for a transit remand, after which he will be taken to Kolkata for formal judicial proceedings.
This arrest marks a significant step forward in the CBI’s ongoing efforts to combat large-scale financial frauds and bring perpetrators to justice.
