PNB closed all recovery options by going public: Nirav Modi

In a letter that jeweller Nirav Modi wrote to Punjab National Bank, he alleged that they closed all options of recovery by going public and destroyed his brand. Dismissing claims of ₹11,000 crore in unpaid dues, Modi said what his company owed the bank was below ₹5,000 crore. Earlier, the Enforcement Directorate seized jewellery, gold and diamonds worth ₹5,100 crore.