New 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 a large-scale banking and financial fraud case that caused a loss of hundreds of crores to the consortium of banks led by State Bank of India (SBI). According to an official statement, “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 traced to the United Arab Emirates (UAE). “At India’s request, the subject was taken into custody by UAE authorities. After appropriate legal proceedings and close coordination between Indian and UAE authorities, it was decided to hand over the subject to Indian authorities,” the statement said. Parekh reached Delhi on May 1, where he was taken into custody by the CBI’s Bank Securities and Fraud Branch (BSFB), Kolkata.(with agency input)