Can’t Pay You Now : Modi’s Letter To Staff

Beleaguered diamond jeweller Nirav Modi, who was allegedly involved in Rs 11,400-Crore fraud case at the Punjab National Bank, has written a letter to his staff after the “scam” broke out. In his letter, Nirav has asked his employees to look for other jobs as he couldn’t pay them now. He even assured his employees of paying their dues once he get access to his stocks, bank accounts.

“I hope that we will be able to re-associate ourselves in better days. But, I make it clear that I am committed to pay your past dues, if any, once I have access to stocks and the bank accounts,” said Nirav.

In the email, Nirav wrote, “The near future is uncertain.” Beginning the email by writing that “our organization is suffering” due to a complaint filed by the PNB, he wrote, “As of now, because of seizure and removal of all stocks in factories and showrooms, and freezing of bank accounts, we shall not be in a position to pay your dues, and it would be right on your part to look for other career opportunities.”

Nirav added, “I am also concerned at the speed with which events are moving which make me concerned about the fairness of the processes that are being followed.” Nirav in his letter expressed his angst towards the arrest of his accountant Hemant Bhatt by the CBI and said that he was “picked up” inspite of his heart-related ailments and 64 years of age.

A person associated with Nirav Modi’s legal team has claimed the email as authentic.

In another letter, reportedly written by Nirav to the PNB, he wrote that the PNB’s actions had “destroyed” his brand, business and “closed” all his “options” by taking the issue to “public”.

Meanwhile, Nirav is expected to write a letter to the ED, CBI and the ministry of external affairs, that had suspended his passport.