Overview
- Sandeep Mistry was deported from the UAE and taken into CBI custody in Mumbai after arriving on September 28, and he was produced before a special CBI court that remanded him to judicial custody until October 6.
- At the CBI's request INTERPOL issued a Red Notice in July 2026, UAE authorities located and arrested Mistry and coordinated his deportation with India’s MEA and MHA.
- The CBI and ED have already named Mistry in charge sheets that allege he acted as a key operational link in the PNB scheme by arranging forged import‑export documents and fictitious trade.
- Investigators say Mistry used self‑deleting communication platforms, coerced offshore 'dummy' directors by seizing devices and threatening them, and helped siphon funds through shell company accounts.
- The arrest sharpens focus on evidence gathering in the multi‑crore PNB fraud connected to Nirav Modi and could aid asset‑recovery and prosecution even as Modi contests extradition abroad.