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Nirav Modi plays victim: PNB closed all the doors of repayment for me

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Nirav Modi

Nirav Modi said that the “erroneous liability resulted in a media frenzy led to immediate search and seizure of operations” jeopardizing the group’s ability to discharge the dues to the banks. 

 

The absconding Jewellery giant Nirav Modi who allegedly committed a fraud and duped the Punjab National Bank of ₹11,400 crores has now written a letter to the bank. In the letter dated February 15/16, he asserted that by making the details of the transaction public, the ‘overzealous’ bank has shut all the doors of repayment possibility for him.

He also requested the bank to let him clear the dues of employees who are yet to get their salaries. Nirav Modi also asked the PNB bank to “be fair, and support his efforts to make good all the amounts that are found due by his group to all banks.”

Nirav Modi

CBI notice outside the Brandy house branch of Nirav Modi jewellery shop

Highlighting the amount reported through press coverage by the bank is not correct, he said, “The media suggests that the liability of the Nirav Modi Group is over Rs 11,000 crores. As you are aware, this is entirely incorrect and the liability of the Nirav Modi Group is substantially less.” He further added that the in a letter to the bank after the complaint was filed he sought the bank’s permission to sell Firestar group which could have helped to “reduce/discharge the debt to the banking system”. He said the valuation of the business was approximately Rs. 6,500 crores.

Blaming the extensive media reports he said that the “erroneous liability resulted in a media frenzy led to immediate search and seizure of operations” which according to him jeopardize the group’s ability to discharge the dues to the banks.

The diamantaire further said that the PNB has over the years acknowledged the buyers’ credit facility given by the bank himself to the three partnership firms. He added that there has been no loan default by these firms over all these years and the loan money from PNB was only used for repayments of the advances given by the overseas bank branches.

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Soldier killed as Pak army violates ceasefire along LoC in Rajouri

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Jammu| An Army soldier was killed when Pakistan violated the ceasefire by heavily shelling forward areas and posts along the Line of Control with mortar bombs in Jammu and Kashmir’s Rajouri district Thursday, officials said.

Pakistani troops violated the ceasefire in Keri belt of Sunderbani sector this morning, they said.

One soldier was was killed in Pakistani firing, they added.

Pakistani troops have violated the ceasefire over 110 times along the LoC since January.

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CRPF jawan kills 3 colleagues in J-K

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New Delhi| Three CRPF personnel were killed Wednesday after a colleague allegedly fired at them after an altercation at their camp in Jammu and Kashmir, officials said.

 

The alleged fratricide incident happened at around 10 pm when constable Ajit Kumar shot three of his colleagues from his service rifle at the 187th battalion camp of the force in the Battal Ballian area in Udhampur, they said.

 

The officials said while three Central Reserve Police Force (CRPF) men were killed in the firing, Kumar also shot himself and is critical in a hospital.

 

Kumar hails from Kanpur in Uttar Pradesh and was rushed to a military hospital nearby, they said.

 

The deceased have been identified as head constables Pokarmal R of Jhunjhunu in Rajasthan, Yogendra Sharma of Delhi and Umed Singh of Rewari in Haryana.

 

The incident is said to be triggered after the jawans had an altercation, they said.

 

Senior CRPF and police officials have rushed to the spot, they added.

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Vice president, PM greet nation on Holi

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Narendra Modi

 

New Delhi| Vice President M Venkaiah Naidu and Prime Minister Narendra Modi Thursday greeted people on Holi, saying the festival symbolises the victory of good over evil.

In his message, Naidu said, “Holi is a celebration of the victory of good over evil. It is a festival that expresses joy and camaraderie.”

 

Modi hoped that the festival of colours will bring peace, harmony, prosperity and happiness in our lives.

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