PNB Bank Nirav Modi CBI Brings Sandeep Mistry Back To India From UAE In Fraud Case
New Delhi, Sept. 30, 2026: In a major development in the Punjab National Bank (PNB) fraud case involving fugitive businessman Nirav Modi, the Central Bureau of Investigation (CBI) has taken a step further. The agency has also brought back from the United Arab Emirates (UAE) Sandeep Mistry, an accused in the case who was wanted by the agency.
The CBI said the deportation was done in coordination with Ministry of External Affairs (MEA), Ministry of Home Affairs (MHA) and UAE authorities. Mistry reached Mumbai at about 11:55 pm on Sep 28 and was arrested by officers of the Bank Securities and Fraud Branch (BSFB) of the CBI, Mumbai.
Sandeep Mistry remanded to judicial custody
Mistry was produced before a competent court in Mumbai on his arrival in India. The court later sent him to judicial custody. Later a special CBI court sent him to judicial custody till October 6.
Mistry was detained based on an Interpol Red Notice issued against him in July 2026 at the request of the CBI. UAE authorities subsequently tracked and arrested him and the deportation process was initiated, according to the agency.
What Is Mistry Accused Of?
The CBI has accused Mistry of being involved in fake international trade deals connected to the PNB fraud case. According to the agency, he was allegedly a link between various entities and was involved in the supervision of their day-to-day operations.
Investigators also said Mistry helped to prepare fake import-export documents to make fake transactions involving diamonds, gold and pearl jewelry appear authentic. The CBI also claims he was involved in transferring money from dummy companies’ bank accounts in the UAE.
The agency has also alleged that Mistry and others pressurized directors of foreign companies which were allegedly used as dummy entities. The directors were allegedly threatened and forced to sign documents which purported to show them as the real owners of the companies, the CBI said.
These are allegations made by the investigating agency and will be subject to proceedings before the court.
Interpol Red Notice: Resulted In Deportation
The CBI said an Interpol Red Notice was issued against Mistry in July 2026. After the notice, UAE authorities located him and arrested him and started the process to deport him to India.
The agency said Mistry was deported to India around two months after the Red Notice was issued after coordination between Indian and UAE authorities.
Already chargesheet filed
The CBI has said a chargesheet has already been filed in the case before the competent court. Mistry’s return to India is related to the larger probe into the PNB fraud case and the alleged network around it.
Indian authorities are still on the trail of people accused in large financial frauds with foreign jurisdictions, a development that comes as the country is looking at expanding its global reach in financial crime investigations.
What happens now?
Mistry is now in judicial custody and further legal proceedings in India will decide what happens next in the case. Investigators may continue to probe his alleged role, financial transactions and links with other entities and accused persons involved in PNB fraud investigation.
The case is still pending in courts and allegations made by the investigating agencies have not yet been proved to be final findings of guilt.
❓ FAQs
1. Who is Sandeep Mistry?
Sandeep Mistry is an accused in the PNB fraud case linked to fugitive businessman Nirav Modi.
2. From where was Sandeep Mistry brought to India?
Sandeep Mistry was deported from the United Arab Emirates (UAE) to India.
3. When was the Interpol Red Notice issued against Mistry?
According to the CBI, an Interpol Red Notice was issued against Mistry in July 2026.
4. Where is Sandeep Mistry now?
Mistry has been sent to judicial custody following his production before the court.
5. What is the CBI investigating in the case?
The CBI is investigating allegations involving fake international trade transactions, documents, dummy companies and financial transactions connected with the PNB fraud case.
