• Friday, August 19, 2022

Business

You destroyed my brand, Nirav Modi tells PNB

File photo: Nirav Modi

By: Keerthi Mohan

Celebrity billionaire jeweller Nirav Modi, who is at the center of a controversy for allegedly duping Punjab National Bank (PNB), has blamed the state-run lender for destroying his brand and tarnishing his reputation. A case has been filed against Modi for fraudulent activities amounting to more than Rs 11,000-crore. However, in a letter to PNB, Modi claims his dues were much less than what the bank has claimed. He claims he owes the bank under Rs. 5,000 crore. “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…

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