Priyanka Chopra to terminate contract with Nirav Modi

Reports were doing the rounds that actor Priyanka Chopra has decided to sue billionaire Nirav Modi over non-payment issues concerning an endorsement deal. Priyanka was the global brand ambassador for Modi’s brand and had shot for an advertisement with fellow actor Siddharth Malhotra towards the end of last year.

The actor has quashed the rumours regarding suing Nirav Modi but confirmed that she has decided to terminate her contract with the billionaire’s brand that has been dogged by allegations of fraud.

Denying the reports, Priyanka’s Chopra’s representative has issued a statement saying, “There are speculative reports that Priyanka Chopra has sued Nirav Modi. This is not true. However, she is currently seeking legal opinion with respect to terminating her contract with the brand in light of allegations of financial fraud against Nirav Modi.”

Actor Siddharth Malhotra who endorsed Nirav Modi’s jewellery label with the Quantico star last year was also reportedly considering his legal options to sue the businessman over non-payment issues but it has been denied by a source close to him as nothing but hearsay.

The source said, “His contract with the brand expired last year itself. So, there is no issue of non-payment.”

On Wednesday, Public Sector Bank PNB (Punjab National Bank) had said that it had uncovered a scam worth Rs. 11,400 crore (approximately USD 1.77 billion) where Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from a branch in Mumbai to acquire credit from other Indian lenders located overseas.

by TNBC Staff Reporter on February 16, 2018

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Priyanka Chopra to terminate contract with Nirav Modi

Reports were doing the rounds that actor Priyanka Chopra has decided to sue billionaire Nirav Modi over non-payment issues concerning an endorsement deal. Priyanka was the global brand ambassador for Modi’s brand and had shot for an advertisement with fellow actor Siddharth Malhotra towards the end of last year.

The actor has quashed the rumours regarding suing Nirav Modi but confirmed that she has decided to terminate her contract with the billionaire’s brand that has been dogged by allegations of fraud.

Denying the reports, Priyanka’s Chopra’s representative has issued a statement saying, “There are speculative reports that Priyanka Chopra has sued Nirav Modi. This is not true. However, she is currently seeking legal opinion with respect to terminating her contract with the brand in light of allegations of financial fraud against Nirav Modi.”

Actor Siddharth Malhotra who endorsed Nirav Modi’s jewellery label with the Quantico star last year was also reportedly considering his legal options to sue the businessman over non-payment issues but it has been denied by a source close to him as nothing but hearsay.

The source said, “His contract with the brand expired last year itself. So, there is no issue of non-payment.”

On Wednesday, Public Sector Bank PNB (Punjab National Bank) had said that it had uncovered a scam worth Rs. 11,400 crore (approximately USD 1.77 billion) where Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from a branch in Mumbai to acquire credit from other Indian lenders located overseas.

by TNBC Staff Reporter on February 16, 2018

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