Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
2-min read

PNB Scam-tainted Mehul Choksi Tells Employees Can’t Pay Salaries, Look for New Jobs

Mehul Choksi's company, Gitanjali Gems, employs over 3,500 people, The open letter, released by his lawyer Sanjay Abbott, expressed “helplessness” at the situation and asked employees to look for other jobs.

News18.com

Updated:February 24, 2018, 3:27 PM IST
facebookTwittergoogleskypewhatsapp
PNB Scam-tainted Mehul Choksi Tells Employees Can’t Pay Salaries, Look for New Jobs
File photo of Mehul Choksi. (YouTube)
Loading...
New Delhi: Diamond merchant Mehul Choksi, who along with his nephew Nirav Modi is the main accused in the Punjab National Bank scam, has written an open letter to his employees.

In the letter, released by his lawyer Sanjay Abbot, he expressed “helplessness” and told the employees that their salaries would not be paid in time. Choksi’s company, Gitanjali Gems, employs over 3,500 people.

“I am facing a lot of problems due to the manner in which the multiple investigative agencies/ government agencies have started to create a havoc, hell bent upon stopping the operations (of Gitanjali Gems),” he said in the letter, as quoted by ANI. “I will face my destiny and I know I have done nothing wrong and ultimately the truth shall prevail,” the letter added.

Highlighting the "situation of fear and injustice" created against him and the company, the letter suggested to employees that in view of the uncertainty looming over payment of dues, termination of office operations, and "unfair investigation", they begin scouting for alternate career options.

The letter clarified that laptops, mobile phones issued by the organisation can remain with employees until dues were cleared, adding that relieving letters and experience certificates would be issued to them when necessary.

Choksi, along with Modi, is accused in the Rs 11,400 crore PNB scam. The scam came to light after the state-run bank informed the stock exchange about the fraudulent transactions on February 14.

The alleged fraud occurred as one PNB deputy manager, with the assistance of one or more colleagues, issued more than 100 fraudulent LOUs for firms linked to Modi and Choksi. The Central Bureau of Investigation (CBI) arrested some half a dozen bank officials, including the two junior Mumbai officials, as well as employees of companies controlled by Modi and Choksi. Lawyers and families of the accused officials have denied any wrongdoing. Both Modi and Choksi left the country last month before the issue came to light.

On Friday, both Nirav Modi and Choksi did not appeared before Enforcement Directorate despite summons. ED has issued fresh summons under the Prevention of Money Laundering Act (PMLA). They have to appear on February 26.

Nirav Modi on Thursday made it clear that he can't appear and depose before the ED. In an emailed reply to the ED’s investigating officer, he cited the temporary suspension of his passport and pending business issues as reasons for his non-appearance before the probe agency. The CBI and the ED have registered two FIRs each in the case.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Ashish Yechury
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
ICICI Bank 431.75 5.09
Reliance 1,336.85 0.22
SBI 355.35 3.84
IndusInd Bank 1,648.90 3.14
Larsen 1,544.15 4.61
Company Price Change %Gain
GRUH Finance 313.30 -4.42
Reliance 1,336.80 0.07
Larsen 1,543.65 4.60
SpiceJet 141.55 9.64
SBI 354.60 3.59
Top Gainers
Company Price Change %Gain
ICICI Bank 431.75 5.09
Larsen 1,544.15 4.61
Zee Entertain 376.85 4.55
JSW Steel 288.00 4.37
Bharti Airtel 353.20 4.25
Company Price Change %Gain
ICICI Bank 431.50 5.09
Larsen 1,543.65 4.60
Bharti Airtel 353.30 4.40
Vedanta 163.85 4.20
Tata Motors 182.15 4.09
Top Losers
Company Price Change %Gain
Tech Mahindra 735.85 -1.00
NTPC 129.15 -0.54
TCS 2,048.00 -0.29
HUL 1,749.60 -0.24
HCL Tech 1,065.95 -0.04
Company Price Change %Gain
NTPC 129.20 -0.54
HCL Tech 1,061.65 -0.46
TCS 2,049.65 -0.20
HUL 1,749.20 -0.10

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results