Bollywood actress Priyanka Chopra, who featured in one of the advertisement campaigns for jewellery designer Nirva Modi, has terminated her contract with the brand, her spokesperson has said.
Nirav Modi is accused of acquiring fraudulent letters of undertaking from a Punjab National Bank branch in Mumbai to secure overseas credit from other Indian lenders.
Bollywood actress Priyanka Chopra, who featured in one of the advertisement campaigns for jewellery designer Nirva Modi, has terminated her contract with the brand, her spokesperson has said.
Chopra has taken the step in the light of recent allegations against Nirav Modi, who is accused of acquiring fraudulent letters of undertaking from a Punjab National Bank branch in Mumbai to secure overseas credit from other Indian lenders.
Actor Sidharth Malhotra, who also featured in the same advertisement with Priyanka, had told PTI that since his contract is already over with the brand he is not planning any legal action.
State-owned Punjab National Bank had earlier said it has detected a $1.77 billion (about Rs 11,400 crore). 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 Enforcement Directorate conducted multiple searches in connection with the money laundering case against the designer and others following the complaint.
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 Mehul Choksi entered into a criminal conspiracy with the officials of the bank 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.
(Agency inputs)