The Central Bureau of Investigation (CBI) has arrested businessman Sandeep Mistry, an associate of fugitive diamond merchant Nirav Modi, following his extradition from the United Arab Emirates (UAE) in connection with the Punjab National Bank (PNB) fraud case, reported the PTI.

Mistry was extradited to India on Monday and was formally arrested by the CBI in Mumbai on Tuesday. He was subsequently produced before a special CBI court.