PNB Scam: Mehul Choksi, Nirav Modi ask employees to explore other career options


Indian Bollywood actress Raima Sen, businessman Mehul Choksi and actress Urvashi Sharma attend the Gitanjali Lifestyle 1,000 m guinea race and Milap fashion show in Mumbai on December 13, 2009.AFP PHOTO/STR. (Photo credit should read STR/AFP/Getty Images)
Indian Bollywood actress Raima Sen, businessman Mehul Choksi and actress Urvashi Sharma attend the Gitanjali Lifestyle 1,000 m guinea race and Milap fashion show in Mumbai on December 13, 2009.AFP PHOTO/STR. (Photo credit should read STR/AFP/Getty Images)

Nirav Modi’s uncle Mehul Choksi is asserting his innocence in the Punjab National Bank scam, and says he has done nothing wrong.

Choksi, owner of Gitanjali Gems, has been accused of being an accomplice in the Rs 11,300 crore PNB fraud and on Saturday he issued a statement to his employees saying that truth shall prevail.

“I will face my destiny and I know I have done nothing wrong and ultimately the truth shall prevail,” Choksi said in the letter. He also expressed his helplessness with regard to clearing the dues of his 3,500 employees as investigative agencies have seized his assets.

“I am facing a lot of problems due to the manner in which the multiple investigative agencies/ government agencies have started to create a havoc, hell bent upon stopping the operations,” he added, and asked his employees to begin scouting for alternate career options. He also asked his employees to return company issued laptops and mobile phones once their dues were cleared.

A few days back, Choksi’s nephew Modi also issued a letter to his staff asking them to look for other career opportunities.

“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,” Modi said in his letter. He also said PNB’s decision to file a complaint against him has left his organisation suffering.

“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.

The PNB scam came to light early this month when the state-run bank lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore against Modi, Choksi and a few of their family members.