Nirav Modi Pens Second Letter ‘Explaining’ Why He’s Not Returning

Nirav Modi wrote to the ED twice in the last fortnight stating he could not return to India as he was being hounded.

2 min read
Nirav Modi is the main accused in an alleged fraud of over Rs 12,600 crore at Punjab National Bank.

Nirav Modi wrote to the Enforcement Directorate twice in the last fortnight stating that he could not return to India as he was being hounded and also had to ensure his creditors and employees overseas face no difficulty.

I have also been very concerned by the tone of the press coverage and comments that have been made by politicians which has led to me having concerns of my own safety.
Nirav Modi wrote in his first email to the ED on 21 February submitted to the court

Modi said he is engaged in trying to deal with his overseas businesses to ensure that creditors, including banks, and employees are properly considered given the “difficulties” these businesses are experiencing.

The investigating agency has issued three summons to Modi to question him about his alleged involvement in the Rs 12,700 crore loans granted on fraudulent guarantees issued in the name of Punjab National Bank Ltd to the companies related to him.

A special court issued a non-bailable warrant against him and his uncle, Mehul Choksi of Gitanjali Gems Ltd.

In his second email dated 25 February, he said he has been advised to approach the Indian embassy for allowing for temporary travel documents to visit India after his passport was suspended.

The lightning speed in which the Passport Authority has acted clearly shows that the actions itself was pre-determined and my fate was already decided, without even considering my reply and without any regard to law.
Nirav Modi wrote in his second email to ED on 25 February submitted to the court

He sought the reason from the passport authority for the suspension and proposed revocation of his passport. Within minutes of his response, the passport authority had revoked his passport.

I am being harassed to the extent possible, with multiple agencies hounding me and everything that is important to me, my safety, my reputation, my properties etc. are being put in jeopardy.
Nirav Modi wrote in his second email to ED on Feb.25 submitted to the court

He has stated that he is concerned about his safety and his concerns on the “unfairness” in the process is not in any manner misplaced as a lady executive (Kavita Mankikar, executive assistant and authorised signatory of Nirav Modi Group companies.) has been arrested by the Central Bureau of Investigation “illegally”.

He reiterated in the second letter that he is working overseas and his efforts are time-critical and the events are unfolding at a very fast pace.


(This article was first published on BloombergQuint)

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