India’s Central Bureau of Investigation said Parekh is wanted in connection with a banking and financial fraud case worth Rs 2,672 crore. The CBI registered a case in Kolkata in 2016 for allegedly cheating a consortium of 25 banks.
“The accused conspired with other promoters and directors to facilitate the transfer of bank funds through a network of overseas entities and business activities, including in the UAE, while actively managing the export-related business and financial transactions of the company and its overseas associated entities through fraudulent practices such as manipulation of financial transactions and misuse of banking channels,” the CBI said.
According to an Interpol red notice, the defendant is located in the United Arab Emirates. The subject was detained by UAE authorities at the request of India. After due legal process and close coordination between the Indian and UAE authorities, it was decided to hand over the matter to the Indian authorities. The subject arrived in Delhi on May 1 and was detained in Kolkata.
In the second case, the accused Kumar was wanted on charges of cheating, forgery, criminal conspiracy and using forged documents to obtain a passport in connection with a case registered by the Haryana police.
“The accused were the main conspirators in a well-organized scam involving obtaining Indian passports on the basis of forged documents and false information. The accused allegedly helped several persons with criminal antecedents to obtain passports using fake identities and addresses,” the CBI said.
The defendants also played a significant role in coordinating illegal activities and managing the immigration of such persons. At the request of the Haryana police, the CBI issued a red notice on the subject through Interpol channels.
The subject was subsequently located and arrested by UAE authorities. An extradition request has since been submitted to the UAE authorities. The subject arrived in Mumbai on May 1 and was taken into custody by Haryana police.
