New Delhi, May 2 -- 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 subject Kamlesh Parekh from the United Arab Emirates (UAE) to India.

According to the CBI, Parekh is wanted in connection with a case involving large-scale banking and financial fraud resulting in a loss 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...