Nirav Modi letter to staff: Look for other jobs, can't pay you

February 21, 2018 18:40

Disgraced diamond czar Nirav Modi wrote an email to his employees in India saying they should look for other jobs because he will not be able to pay them, with investigative agencies seizing the stock of all his companies and the income tax department freezing their bank accounts.

"The near future is uncertain," he wrote in the email. A person associated with Modi's legal team claimed the email is authentic.

Modi is also believed to have written, or will be writing to the Enforcement Directorate, CBI and the ministry of external affairs, which has suspended his passport.

Following the registration of two FIRs against Nirav Modi, his maternal uncle Mehul Choksi, and their companies by the Central Bureau of Investigation on charges of defrauding Punjab National Bank of Rs 11,400 crore, the Enforcement Directorate started probing the money laundering aspect of the case and has so far seized gems, gold and other precious stones worth more than Rs 5,700 crore from companies and stores of the two.

Referring to the seizure by the ED, Modi, who left India on January 1 for an unknown destination, told his employees: "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 began the email by saying that in view of the recent complaint filed by PNB accusing him of committing fraud, "our organisation is suffering".

This is Modi's second communication after he was accused of committing the fraud. On February 15, he wrote to Punjab National Bank, accusing it of, in its zeal, crippling his ability to pay back his dues. Modi also claimed in that letter that his dues weren't Rs 11,400 crore but much less. The person cited in the first instance claimed the bank has responded to him. Hindustan Times couldn't ascertain this.

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