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CBI seeks to issue proclamation against two officials firms linked to Nirav Modi

CBI moves to proclaim two Nirav Modi aides as absconders after evidence destruction claims.

2 min readMumbaiJan 12, 2026 10:59 PM IST

Modi is currently undergoing extradition proceedings in the UK. (File Photo)

The CBI has sought to issue a proclamation against two senior officials of the companies linked with fugitive jeweller Nirav Modi in connection with the Rs 13,500-crore Punjab National Bank (PNB) fraud case.

An application was filed on Monday by a CBI counsel before the special court in Mumbai seeking the proclamation against absconding accused Mihir Bhansali, the CEO of Modi’s US-based firm Firestar International, and Sandeep Mistry, alleged to be a director of a Hong Kong-based dummy company. They were named previously in a supplementary chargesheet filed in the case by the CBI.

Modi is currently undergoing extradition proceedings in the UK.

In 2018, a Red Corner Notice was issued against Bhansali, who is alleged to have been actively involved in the case where fraudulent Letters of Undertaking were issued in connivance with bank officials towards the benefit of Modi’s companies, causing losses to the bank.

The previous CBI chargesheet had claimed that Bhansali and Mistry had forced directors of dummy companies to leave Dubai in April 2018, months after the scam broke, and their cellphones were destroyed, along with other evidence like the office server, containing data of the accounts.

The trial in the case against the other arrested accused is yet to begin.

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