India’s biggest banking fraud to the tune of Rs 11,400 crore allegedly dedicated with the aid of Nirav Modi, the beleaguered billionaire diamond businessman has written a letter to personnel asking them to look for other jobs, as he are usually not capable of pay their salaries, on the grounds that his bank debts and other assets were frozen by means of the administration, in line with a file in the Hindustan times. apparently, this is the 2d communication after the unfolding of the scam received from prime accused Nirav Modi, who had prior to now written to India’s second biggest lender Punjab national bank, declaring that the unpaid dues are lots lower than what the bank publicly claims, and ‘overzealousness from PNB’ jeopardised his business’s skill to pay unpaid dues to the lenders.
within the 2d email letter, which changed into reportedly tested through an official linked to Nirav Modi’s criminal group, the foul diamond czar states that he is concerned with the pace at which movements are relocating. “i am also worried on the speed with which hobbies are moving which make me concerned about the equity of the processes which are being followed,” Hindustan instances suggested quoting Nirav Modi’s letter.
notably, after the critical Bureau of Investigation registered FIRs against Nirav Modi and his uncle Mehul Choksi on prices of defrauding Punjab countrywide financial institution in the near Rs 11,400 crore, the Enforcement Directorate ED has to date seized gemstones, gold and other valuable stones worth round Rs 5,seven-hundred crore from companies and shops of both leading accused.
“As of now, on account of seizure and elimination of all shares in factories and showrooms, and freezing of financial institution debts, we will now not be able to pay your dues, and it would be correct in your half to look for different profession alternatives,” wirtes Nirav Modi.
within the same letter, Nirav Modi has additionally stated that his accountant, who turned into greater than 64 years old and a heart patient, became arrested by using the CBI. The vital Bureau of Investigation the previous day reportedly wondered a senior PNB reputable in connection with its probe into the fraud.
although, whereas Nirav Modi mentioned that he is presently now not ready to pay the dues, the businessman mentioned that he is ‘committed to repay past dues of the personnel. “i am hoping that we will be capable of re-affiliate ourselves in stronger days. but, I make it clear that i am committed to pay your past dues, if any, as soon as I actually have entry to stocks and the bank money owed,” the newspaper stated Nirav Modi as asserting.
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