Sandeep Mistry arrested after return from UAE

The Central Bureau of Investigation brought Sandeep Mistry from the United Arab Emirates to Mumbai and arrested him in connection with the Punjab National Bank fraud investigation, officials said. A court remanded him to judicial custody until October 6, 2026. Mistry was returned to India on September 28 and taken into CBI custody in Mumbai, where he was produced before a special court the following day, according to accounts of the agency’s statement and court proceedings. The CBI did not seek his remand, and the court ordered judicial custody through October 6. He is due to be produced before the court again on that date, when his custody status may be considered. The CBI alleges that Mistry helped coordinate operations among entities linked to the alleged fraud and issued instructions through self-deleting communication platforms. The agency also alleges he facilitated forged import and export documents purporting to show trades in diamonds, gold and pearl jewellery, and helped siphon funds from accounts belonging to dummy companies in the UAE. Those allegations have not been established in court in the material available.