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.
The agency subsequently produced him before a special CBI court, but did not press for his remand. 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, the CBI alleged.
After being extradited on Monday (September 28, 2026), the CBI formally placed Mistry under arrest in Mumbai on Tuesday (September 29). 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.
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 $2 billion (more than ₹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.
