Look for other jobs, Nirav Modi to employees

Absconding billionaire jeweller Nirav Modi advised his staff to look for other jobs as he is not in a position to pay them.

Published: 22nd February 2018 03:47 AM  |   Last Updated: 22nd February 2018 03:50 AM   |  A+A-

Absconding billionaire jeweller Nirav Modi

By Express News Service

NEW DELHI: In a letter addressed his staff, absconding billionaire jeweller Nirav Modi advised them to look for other jobs as he is not in a position to pay them.

“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 the letter.

The letter has been authenticated by his legal team and is already doing rounds on social media. Modi also promised to clear the dues by the company to its employees.

“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,” he said.

Earlier, he had written a similar letter to the Punjab National Bank, accusing it of crippling his ability to pay back his dues. Modi had also claimed that his dues were not Rs 11,400 crore as reported in media but much less than that.

The latest letter came one day after Mehul Choksi-promoted Gitanjali Gems reportedly offered pink slips to nearly 5,000 employees of the group. Employees of Gitanjali have already stopped going to office.


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