- Sandeep Mistry extradited from UAE, arrested by CBI.
- Key accused in PNB scam, Nirav Modi's associate.
- Involved in Rs 6,498.20 crore fraud, threatened witnesses.
PNB Scam: Sandeep Mistry, a key accused in the Punjab National Bank (PNB) scam and fugitive businessman Nirav Modi's associate, was arrested by the Central Bureau of Investigation (CBI) after his extradition from the UAE, said an official. Mistry was extradited on Monday, and the CBI formally placed him under arrest in Mumbai on Tuesday.
Following Mistry's extradition, the court remanded him to judicial custody till October 6. The arrest was made in compliance with a non-bailable warrant issued by a special court in November 2025.
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CBI, in coordination with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), has successfully secured the deportation of the Red Notice subject Sandeep Mistry from UAE to India, wanted in Nirav Modi PNB Bank Fraud case. The subject, Sandeep Mistry is… https://t.co/1x4D3g3Zgq pic.twitter.com/MHgCdhzq6u
— ANI (@ANI) September 29, 2026
What Was Mistry's Role In The Multi-Million-Dollar Scam?
Mistry, who had served as the director of Fancy Creations Ltd, a Hong Kong-based company of Nirav Modi, played an active role in the criminal conspiracy with Modi and other accused persons in the multi-million-dollar PNB scam. According to the CBI, they cheated the Punjab National Bank (PNB) to the tune of nearly Rs 6,498.20 crore.
The central agency has also claimed that Mistry, along with Modi's brother Nehal and another wanted accused, had threatened the employees - dummy directors of various firms associated with Modi in Dubai - to leave after the case was lodged in India.
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After the scam surfaced, they were allegedly forced to shift to Cairo under the threat that they also could be arrested. The accused had also destroyed their cellphones to erase evidence.
Nirav Modi, His Uncle Mehul Choksi Under ED Lens
Nirav Modi, his uncle Mehul Choksi and others are being probed by the Enforcement Directorate (ED) on money laundering charges since 2018 and also facing investigation by the CBI. They are accused of perpetrating an over USD 2 billion (more than Rs 13,000 crore) bank fraud in connivance with bank officials and by issuance of fraudulent Letters of Undertaking (LoUs) at the Brady House PNB branch in Mumbai.
(With PTI inputs)