PNB fraud: Priyanka Chopra sues Nirav Modi over non-payment of dues

Ready for a caffeine hit The star waited for a cup of coffee by the stand

Ready for a caffeine hit The star waited for a cup of coffee by the stand

Priyanka Chopra, who has become an global sensation, had shot for a Nirav Modi's jewels campaign a year ago. "However, she is now seeking the legal opinion with respect to terminating her contract with the brand in light of allegations of financial fraud against Nirav Modi", read the statement.

State-owned Punjab National Bank had on Wednesday said that it had detected a Dollars 1.77 billion (about Rs 11,400 crore) scam where Nirav Modi allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.

Nirav Modi, owner of one of the biggest global diamond jewelry houses is under investigation.

She and her group had censured him for non-payment for their underwriting bargains.

Nirav Modi is a very big name in the Bollywood industry and some of the top actresses of Bollywood have been associated with him for the purposes of the promotion of his brand. Priyanka, along with actor Siddharth Malhotra, had shot an ad video promoting Nirav Modi diamond. In 2015, Lisa Haydon and Nimrat Kaur had been chosen to launch the designer's store in New York City.

Hollywood biggies like Kate Winslet and Dakota Johnson have also walked for Modi's jewellery brand.

As per a Zee News report, Modi fled the country on January 1st, much before the initial complaint filed by PNB, which was on 29th January. Stocks of gold, diamond and precious stones worth Rs 5100 crore were seized.

Last week, CBI booked Modi, his wife, brothers and partners for cheating PNB of Rs 280.7 crore. "Indian-born diamond jewellery designer Nirav Modi is the founder of the $2.3 billion (revenues) Firestar Diamond", writes Forbes magazine about him.