Mumbai sources have stated that iconic celebrity jeweler Nirav Modi, the alleged kingpin of the largest banking scam in India's history, has said PNB's over zealousness shut the doors on his ability to clear the dues in a letter to the Punjab National Bank's management. Meanwhile Mr. Modi also said the dues were much less than what the bank has claimed, and that his relatives booked in the cases filed by the central agencies had nothing to do with the operations of the firms under their scanner.
Furthermore in a letter Mr. Modi wrote on February 15/16 to the Punjab National Bank management, a copy of which PTI has seen, he pegged the money his companies owe to the bank at under Rs 5,000 crore.
He wrote "The erroneously cited liability resulted in a media frenzy
which led to immediate search and seizure of operations, and which in turn
resulted in Firestar International and Firestar Diamond International
effectively ceasing to be going-concerns". Moreover the letter also refers
to the extended discussions between him, and between his representatives and
the bank officers, besides his emails of February 13 and 15, 2018.
