Come up with an implementable plan to repay dues: PNB to Nirav Modi
Nirav Modi in his letter to the PNB had said that the over-zealousness of the bank to deal with the issue destroyed his jewellery brand sagar diamonds share market news scam-hit Punjab country wide financial institution (PNB) on Thursday asked billionaire diamond jeweller Nirav Modi to give you a concrete and implementable plan to settle the loss prompted to it by using the fraudulent issuance of Letter of Undertakings (LoU) via one in every of its branches. PNB stated this in its reaction to a mail written by way of Nirav Modi, who allegedly cheated the financial institution of Rs 114 billion in connivance with a few bank officials. "You have been getting LoUs issued illegally and in an unauthorized manner via few financial institution officers. At no degree such facilities were extended with the aid of our bank on your three companion corporations," resources said mentioning mail response sent by PNB trendy supervisor (global banking division) Ashwini Vats ...