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‘Look for other jobs, can’t pay you now,’ Nirav Modi writes to employees

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New Delhi: Fugitive jewellery designer, Nirav Modi, on Tuesday in an email asked his employees in India to look for other jobs because he will not be able to pay them as investigative agencies are seizing the stock of all his companies and the income tax department freezing their bank accounts.

According to a report in HT, the email read- “The near future is uncertain.”

Reportedly, a person associated with Modi’s legal team claimed the email is authentic.

ALSO READ: NiMo’s deep dip into the taxpayers’ money puts government under spotlight

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 (ED) 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.

“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,” the email further read.

“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,” he added in the mail.

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