The biggest scam in India’s banking industry led by Nirav Modi has created quite a stir across the country. Yesterday, the alleged scammer sent a letter to the PNB giving clarifications for his actions not only to the bank but also to all the concerned stakeholders.
Nirav Modi has not clearly cleared the air by writing a letter to the bank. What he has said has not been verified as true till date. Nirav Modi, however, claimed that the debt amount is much less than what PNB has claimed. It is worth noting that Nirav Modi has pointed out that his American wife Ami Modi, brother, and uncle Mehul Choksi are not involved in any of his bank dealings. He said that the family is not aware of any of his dealings with PNB. Nirav Modi also slammed the PNB for shutting all doors of recovery. The entire letter sent by Nirav Modi to PNB has caught the limelight of one and all.
“The erroneously cited liability resulted in a media frenzy which led to immediate search and seizure of operations, and which in turn resulted in Firestar International and Firestar Diamond International effectively ceasing to be going-concerns. “This thereby jeopardised our ability to discharge the dues of the group to the banks,” Modi wrote in the letter.
“In the anxiety to recover your dues immediately, despite my offer (on February 13, a day before the public announcement, and on 15,) your actions have destroyed my brand and the business and have now restricted your ability to recover all the dues leaving a trail of unpaid debts,” he said.
Nirav Modi also termed the PNB’s proceedings as a fiasco made in haste. He said, “Whatever may be the consequences I may face for my actions, the haste was, in my humble submission, unwarranted.”
Well, we’ll have to wait and see if the statement made by Nirav Modi are true and justifiable or the astute diamantaire is dodging the banishment from across the industry.