CBI apprehended Sandeep Mistry in Mumbai at 23:55 hrs on September 28, 2026 after he was deported from the UAE. The operation followed a Red Notice issued by INTERPOL in July 2026 and was carried out by CBI, BSFB and MHA officials in close coordination with UAE authorities.
Mistry, a former director of Fire Star Hong Kong, was the key liaison in the $2 billion Punjab National Bank fraud that saw Nirav Modi and his uncle Mehul Choksi siphon off funds through a network of shell companies.
The chargesheet alleges that Mistry orchestrated the creation of forged import‑export documents and coerced dummy directors of foreign entities into signing papers that falsely portrayed them as owners, while siphoning money from their UAE‑based accounts. A former employee of the Dubai‑linked firm, now living in Cairo, said the threats forced him into hiding.
Earlier, in December 2019, the CBI filed a supplementary chargesheet accusing Mistry of forcing employees of a Dubai‑linked firm to relocate to Cairo, threatening them with arrest to stifle the investigation.
With Mistry now in police custody, the court has been notified and is expected to set a hearing date within the next fortnight to decide on bail and further proceedings.