Nirav Modi Declared To Staff That He Can’t Pay Salaries

February 22, 2018

According to a reliable source, it was reported that Nirav Modi has told his colleagues and staff members that now he won’t be able to pay salaries as he has written a letter to bank and requested to repay the money. He has asked bank to permit clearance of dues of employees. He also stated in a letter that he is committed to pay their past dues once he gets access to stocks and bank accounts.

Nirav Modi has told his staff that it would be good on their part to look for other career opportunities. He also cleared that he is not in a position to pay their dues due to this issue. He also added that he will take legal recourse to start his operations once again.

On the other hand, CBI has said that Niten Shahi, Manager, Gitanjali Group, was instrumental in giving applications to Brady House Branch for availing LoUs and public servants have not recorded the same entries in the CBUs. There were some swift messages that were sent on the orders of Niten Shahi, as per CBI officials.

CBI also stated that Kapil Khandelwal being the CFO of Nakshatra Group and Gitanjali Group was privy to all the transactions with PNB. The investigating body went on saying that they need to trace how the fraud happened and to trail the funds. They have also investigated that Kapil Khandelwal was in direct touch of the proprietor if the main accused Mehul Choksi.


About Neha Singh

I am a content writer at Money Classic Research. I am first a Fashionista and then a writer. Born and brought up in the heart of India. I am better known for my creativity and passionate nature. I have expertly written content for magazines as well as for blogs.
By: Neha Singh

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