PNB scam case Update: CBI extradites fugitive Nirav Modi’s associate Sandeep Mistry from UAE to India
Nirav Modi’s associate Sandeep Mistry has been extradited from UAE to India. The Central Bureau of Investigation (CBI) has arrested Sandeep Mistry, an associate of fugitive businessman Nirav Modi, after his extradition from the United Arab Emirates in connection with the multi-million dollar PNB scam.
After Sandeep Mistry was extradited on Monday, the CBI formally arrested Mistry in Mumbai on Tuesday. The agency later produced him before a special CBI court but did not press for his remand.
The court has sent Sandeep 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 served as a director of Nirav Modi’s Hong Kong-based company, Fancy Creations Ltd. The CBI alleged that Mistry played an active role in the criminal conspiracy with Modi and other accused persons to fleece around Rs 6,498.20 crore from Punjab National Bank.
The central agency has also claimed that Sandeep Mistry, along with Nirav Modi’s brother Nehal and another accused, had threatened employees and dummy directors of various companies linked to Modi in Dubai to leave the country after a case was registered in India.
Sandeep Mistry forced them to relocate to Cairo under the threat that they too could be arrested. The CBI reported that the accused also destroyed their cellphones to destroy evidence.
All of them are accused of committing bank fraud of more than Rs 13,000 crore in connivance with bank officials and by issuing fake Letters of Undertaking (LoUs) at the Brady House PNB branch in Mumbai.
