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CBI arrests Nirav Modi's aide UAE extradition

economictimes.indiatimes.com · 3h · first reportShare

Mumbai: The Central Bureau of Investigation (CBI) has arrested fugitive businessman Nirav Modi's associate Sandeep Mistry following his extradition from the UAE in connection with a multi-million-dollar PNB scam, officials said.After being extradited on Monday, the CBI formally placed Mistry under arrest in Mumbai on Tuesday. The agency subsequently produced him before a special CBI court, but did not press for his remand.The court then remanded 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 had served as the director of Fancy Creations Ltd, a Hong Kong-based company of Nirav Modi.The CBI alleged that Mistry played an active role in the criminal conspiracy with Modi and other accused persons, in furtherance of which the Punjab National Bank was cheated to the tune of nearly Rs 6,498.20 crore.The central agency has also claimed that Mistry, along with Modi's brother Nehal and anoth