News: Can't pay your dues, look for other opportunities- Nirav Modi

Employee Relations

Can't pay your dues, look for other opportunities- Nirav Modi

The jeweller said that his organisation is suffering and he can only pay the past dues once he has the access to stocks and the bank accounts
Can't pay your dues, look for other opportunities- Nirav Modi

Allegedly involved in a Rs 11,400-crore fraud case at the Punjab National Bank (PNB), Jeweller Nirav Modi penned down the second letter, this time to his employees.  

On Tuesday, he 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, as reported

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 mentioned in the email that in view of the recent complaint filed by PNB accusing him of committing fraud, “our organization is suffering”.

“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,” added Modi.

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Topics: Employee Relations

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