- Sandeep Mistry deported from UAE nearly two months after Interpol Red Notice was issued
- CBI alleges key role in fictitious international trade transactions and concealment of evidence
- Probe covers alleged forged diamond, gold and jewellery trade documents and diversion of funds
- International coordination involving CBI, MEA, MHA and UAE authorities brings accused back to Mumbai
NE LAW & BANKING BUREAU
AHMEDABAD, SEPT 29
A nearly two-month international manhunt has ended with the return of Sandeep Mistry to India from the UAE, as coordinated action by the CBI, Interpol, Indian ministries and UAE authorities brings a Red Notice subject wanted in the Nirav Modi-linked Punjab National Bank fraud case back within the reach of Indian investigators and the courts.
The Central Bureau of Investigation (CBI), in coordination with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), has secured the deportation of Sandeep Mistry, a subject of an Interpol Red Notice, from the United Arab Emirates (UAE) to India in connection with the Nirav Modi-linked Punjab National Bank (PNB) fraud case.
Mistry, who was wanted in a case registered by the CBI’s Banking Securities & Fraud Branch (BSFB), Mumbai, arrived in Mumbai at 11.55 pm on September 28. He was taken into custody by CBI officers and produced before the competent court, which sent him to judicial custody, according to the CBI.
CBI alleges a web of fictitious trade transactions
According to the CBI, Mistry allegedly played a key role in a bank-fraud case involving fictitious international trade transactions.
The agency alleges that he acted as a link between various entities, overseeing their day-to-day operations and issuing instructions through clandestine, self-deleting communication platforms allegedly used to conceal evidence.
The CBI further alleges that Mistry facilitated the preparation of forged import-export documents designed to portray fictitious trade in diamonds, gold and pearl jewellery.
The agency has also alleged that Mistry, along with other accused persons, coerced dummy directors of foreign companies by threatening them with arrest, relocating them, taking possession of their electronic devices and compelling them to sign documents intended to portray the companies as genuine businesses.
The CBI has additionally alleged his involvement in the siphoning of funds from bank accounts of dummy companies in the UAE.
A charge sheet in the case has already been filed before the competent court.
Red Notice triggers international pursuit
Following a request from the CBI, an Interpol Red Notice was published in July 2026 against Mistry through Interpol channels.
The CBI said UAE authorities subsequently located and arrested him, following which the deportation process was initiated.
The agency described the operation as an example of rapid international law-enforcement cooperation, noting that Mistry was traced, apprehended and brought back to India within approximately two months of the publication of the Red Notice.
The case underscores the increasingly international character of major financial crimes, where alleged transactions, corporate structures, bank accounts and accused persons may span multiple jurisdictions.
From Red Notice to Mumbai custody
After his arrival in Mumbai, Mistry was taken into CBI custody and produced before the competent court. He has since been sent to judicial custody.
The CBI investigation concerns alleged fraudulent transactions involving banking and international trade structures. The allegations against Mistry will be subject to proceedings before the competent court.
CBI expands global recovery and enforcement network
The CBI functions as India’s National Central Bureau for Interpol and coordinates with law-enforcement agencies across the country through Bharatpol for assistance through Interpol channels.
According to the agency, more than 175 wanted criminals have been brought back to India in recent years through coordination via Interpol channels.
The deportation of Mistry marks another instance of Indian investigators working with international counterparts to pursue suspects allegedly involved in complex economic offences extending beyond national borders.
