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Priyanka mulling termination of contract with Nirav Modi, says her spokesperson

Press Trust of India  |  Mumbai 

Chopra, who featured in one of the advertisement campaigns for Nirva Modi, is currently seeking legal opinion to terminate her contract with the brand, the actor's said today. Yesterday, state-owned said it has detected a USD 1.77 billion (about Rs 11,400 crore) scam where the billionaire allegedly acquired fraudulent letters of undertaking from a branch in to secure overseas credit from other Indian lenders. On reports of her taking legal action against the brand for alleged non-payment of dues for the ad campaign, Priyanka's said in a statement,"There are speculative reports that has sued This is not true. "However, she is currently seeking legal opinion with respect to terminating her contract with the brand in light of allegations of financial fraud against " Sidharth Malhotra, who also featured in the same advertisement with Priyanka, told that since his contract is already over with the brand he is not planning any legal action. Last week, PNB had lodged a complaint with the CBI stating that fraudulent LoUs worth Rs 280.7 crore were first issued on January 16.

At the time, PNB had said it was digging into records to examine the magnitude of the fraud. The today conducted multiple searches in connection with a Rs 280 crore money laundering case against the and others following a complaint by PNB. Modi (46), who had figured in the Forbes' list of richest Indians, was booked by the CBI for cheating after PNB sent a complaint to it alleging that the jewellery firm owner, his wife, his brother and business partner entered into a criminal conspiracy with the officials of the and cheated it, causing a "wrongful loss". According to the CBI, Modi had left the country on January 1 much before they received the complaint.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 15 2018. 20:00 IST
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