CBI Has Arrested Sandeep Mistry, Close Aide Of Nirav Modi, Following His Deportation From The UAE

The Central Bureau of Investigation (CBI) has arrested Sandeep Bharat Mistry, an associate of fugitive diamantaire Nirav Modi, after he was deported from the United Arab Emirates (UAE) to India in connection with the Punjab National Bank (PNB) fraud case.

Mistry, who was brought to Mumbai late on September 28, was taken into custody by the CBI’s Bank Securities and Fraud Branch (BSFB). He was produced before a special CBI court in Mumbai on September 29 and was remanded to judicial custody till October 6. The agency did not seek his police custody at the hearing.

How Mistry was brought back to India

The CBI said it secured Mistry’s deportation from the UAE in coordination with the Ministry of External Affairs and the Ministry of Home Affairs.

An Interpol Red Notice against Mistry was issued in July 2026 at the CBI’s request. Following the Red Notice, UAE authorities traced and arrested him, after which deportation proceedings were initiated.

According to the CBI, Mistry arrived at Mumbai airport at around 11.55 pm on September 28 and was subsequently taken into custody by the agency. He was then produced before the competent court.

A non-bailable warrant had also been issued against Mistry by a special court in November 2025, paving the way for his arrest after his return to India.

What is Mistry accused of?

The CBI has alleged that Mistry played a key role in the alleged conspiracy through which PNB was defrauded of nearly Rs 6,498.20 crore.

According to the agency, Mistry acted as a link between several entities associated with Modi and supervised their day-to-day operations. He allegedly issued instructions through clandestine, self-deleting communication platforms, which the agency says were used to conceal evidence.

The CBI has further alleged that Mistry helped prepare forged import-export documents to make fictitious transactions involving diamonds, gold and pearl jewellery appear genuine.

The agency has also alleged that Mistry, along with other accused, coerced individuals who were shown as directors of dummy foreign companies. According to the CBI, they were threatened with arrest, relocation and seizure of their electronic devices and were allegedly forced to sign documents falsely portraying them as genuine owners of the companies.

The agency has also accused Mistry of participating in siphoning funds from bank accounts of dummy companies in the UAE.

The CBI has already filed a chargesheet in the case against Mistry and other accused.

PNB fraud case

The case relates to the alleged fraudulent issuance of Letters of Undertaking (LoUs) through PNB’s Brady House branch in Mumbai. The alleged transactions were used to obtain credit from overseas branches of Indian banks.

The wider case involves Nirav Modi, his uncle Mehul Choksi and several other accused. The Enforcement Directorate has also been investigating the matter as a money laundering case since 2018, while the CBI is investigating the underlying bank fraud and criminal conspiracy.

The alleged fraud involving the Nirav Modi group has been reported at more than Rs 13,000 crore when the wider PNB-related transactions are taken into account, while the specific CBI case involving Mistry concerns an alleged fraud of about Rs 6,498.20 crore.

Nirav Modi continues to face legal proceedings in the UK, even as his extradition to India moves closer. In June 2026, a London court ordered Modi to pay over Rs 100 crore to the Bank of India, holding him personally liable under a guarantee linked to a loan extended to Firestar Diamond FZE. His attempt to reopen his extradition case was rejected by the UK High Court in March, while his subsequent challenge before the European Court of Human Rights (ECHR) also failed. The Ministry of External Affairs said in July that Modi would be deported to India once the remaining legal proceedings are concluded.