The CBI said Parekh was wanted in a banking and financial fraud case worth Rs 2,672 crore. A case was registered by the CBI in Kolkata in 2016 on charges of defrauding a consortium of 25 banks.“The accused, in conspiracy with other promoters and directors, facilitated the diversion of bank funds through a network of overseas entities and business activities, including in the UAE, while actively managing the 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.”Based on the Interpol Red Notice, the accused was based in UAE. At India’s request, the subject was detained by UAE authorities. After appropriate legal proceedings and close coordination between Indian and UAE authorities, it was decided to hand over the matter to Indian authorities. The man reached Delhi on May 1 and was taken into custody in Kolkata.In the second case, accused Kumar was wanted in connection with a case registered by Haryana Police for crimes including cheating, forgery, criminal conspiracy and use of forged documents to fraudulently obtain a passport.“The accused was the key conspirator of a well-organized racket involved in obtaining Indian passports on the basis of forged documents and false information. The accused had allegedly helped several persons with criminal background in obtaining passports by using fake identities and addresses,” the CBI said.The accused also played an important role in coordinating illegal activities and managing the immigration of such persons. On the request of Haryana Police, CBI got a red notice published against the subject through Interpol channels.Subsequently, the subject’s geo-location was traced and he was arrested by UAE authorities. Subsequently, an extradition request was submitted to the UAE authorities. He reached Mumbai on May 1 where he was taken into custody by Haryana Police.