In his letter Mehul Choksi said that he has done no wrong, however it will take time to prove his innocence and the future seems uncertain presently. Photo: Priyanka Parashar/Mint
Mumbai: Gitanjali Gems Ltd promoter Mehul Choksi who along with his nephew Nirav Modi is accused in the Rs11,400 crore fraud in the state-run Punjab National Bank (PNB) has told his employees to look out other opportunities elsewhere as it would be tough for him to clear their dues and pay future salaries, in view of the seizing of the various properties and bank accounts by the government agencies and investigating agencies.
In his letter Choksi said that he has done no wrong, however it will take time to prove his innocence and the future seems uncertain presently. "I will face my destiny and I know I have done nothing wrong. Ultimately the truth will prevail," said Choksi is his letter which is addressed to the staff members of its India operations. The letter was released by his lawyers office and a copy of the same is with Mint. The company employees 3500 employees in India.
In his letter Choksi also expressed concern about the manner in which multiple investigative agencies/ government agencies have come down upon him. "(They have) started to create a havoc, hell bent upon stopping the operations," he said.
Choksi also voiced his fears for himself and his family's safety. Further he also alleged that the investigative agencies were not interested in a fair investigation but in creating a fear psychosis in the minds of employees. "The kind of unfair treatment, unfair investigation, media frenzy and political statements are making me highly insecure about the safety of myself and my family members," said Choksi.
Given the state of affairs, staff members are free to pursue other opportunities elsewhere, said Choksi explaining his "helplessness" in being unable to clear their past dues or pay future salaries. He also said that staff members could retain their laptops, mobile phones if issued by the office till the clearance of their dues. Choksi said that he would also instruct the human resources department to issue relieving letters and experience certificate to employees if they wished to avail of the same. Further he assured them that their dues would be cleared once justice is served and the situation returns to normalcy.
On Friday, the Mumbai bench of the National Company Law Tribunal (NCLT) had allowed the government to attach 64 properties belonging to individuals as well as companies that are part of groups headed by Modi and Choksi in lieu of the of the public disclosure of the fraud at PNB on 14 February. With this order the entire operations of the companies owned by Modi and Choksi have come to a standstill.
Besides NCLT, the ministry of corporate affairs, the Enforcement Directorate (ED), Central Bureau of Investigation (CBI) and the Securities and Exchange Board of India (Sebi), are looking into the PNB fraud matter.
