PNB scam: CBI arrests Nirav Modi's aide Sandeep Mistry after extradition from UAE
Sandeep Mistry, an associate of fugitive businessman Nirav Modi, has been arrested by the CBI following his extradition from the UAE. Mistry is accused of playing a key role in the multi-million-dollar PNB bank fraud case.
Why it matters
Represents a significant development in the long-running investigation into the PNB scam and international efforts to bring financial fugitives to justice.
The Central Bureau of Investigation (CBI) has arrested fugitive businessman Nirav Modi’s associate Sandeep Mistry following his extradition from the UAE in connection with a multi-million-dollar Punjab National Bank (PNB) scam, officials said.
After being extradited on Monday (September 28, 2026), the CBI formally placed Mistry under arrest in Mumbai on Tuesday (September 29). The agency subsequently produced him before a special CBI court, but did not press for his remand.
The court then remanded Mistry 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.
Mistry had served as the director of Fancy Creations Ltd., a Hong Kong-based company of Nirav Modi.
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