Around 700 employees of two of Nirav Modi's firms in the SEZ have lost their jobs as the management has locked the units and asked them to search for another job. This was followed by employees’ in Surat Special Economic Zone protesting and demanding their salaries to be paid.
Earlier this week Nirav Modi wrote an email to his employees in India asking them to look for jobs elsewhere as he would be unable to pay them their dues. Seizing of all stocks in factories and showrooms and freezing of bank accounts has led Nirav Modi and its employees in this situation.
"We are in a big trouble. We have not been given any assurance about the payment of our outstanding salaries," said Deepak Ingle, an employee. He further added, “The management has told us they cannot pay the outstanding salaries for January and February as all the bank accounts have been frozen by the ED and the CBI. We want the government to think about us and un-freeze at least one account to facilitate the payment of our salaries."
The Enforcement Directorate registered a case under Prevention of money laundering against Nirav Modi, his business partner Mehul Choksi and others after Punjab National Bank (PNB) detected a fraud of around Rs. 11,400 crores. Modi in his email to the employees has mentioned that he will pay the salary, once he has access to his stocks and accounts.