PNB fraud fallout: Priyanka Chopra terminates contract with Nirav Modi's brand

Nirav Modi, Mehul Choksi and others are being investigated by multiple probe agencies.

New Delhi: Days after the Punjab National Bank (PNB) fraud involving jewellery designer Nirav Modi came into light, Bollywood actress Priyanka Chopra has terminated her contract with the brand.

ANI quoted the actress's spokesperson as saying, “In light of recent allegations, Priyanka Chopra has chosen to terminate her contract with the #NiravModi brand.”

In light of recent allegations, Priyanka Chopra has chosen to terminate her contract with the #NiravModi brand: Priyanka Chopra's spokesperson (File Pic) pic.twitter.com/NnXYBeYc0Q

— ANI (@ANI) February 23, 2018

The actress was was first associated with Nirav Modi in January 2017 and since her collaboration with the brand, the actress has shot several ad campaigns for it.

Besides Priyanka, model-actress Lisa Haydon too has been associated with the brand.

Nirav Modi (46), who had figured in the Forbes' list of richest Indians, was booked by the CBI for cheating after PNB sent a complaint to it alleging that the jewellery firm owner, his wife, his brother and business partner Mehul Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss".

Earlier this month, the state-owned Punjab National Bank (PNB) said it had detected a Rs 11,400 crore fraud where Nirav Modi allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.

Priyanka had appeared in the a TV commercial for the brand along with Sidharth Malhotra. Sidharth had earlier told PTI that since his contract with the brand was already over, he will not seek any legal action.

Bipasha Basu, who featured in Gitanjali Gems advertisement, has claimed that the brand, owned by Modi's uncle Mehul Choksi, continued to use her pictures even after her contract expired.

Her spokesperson, however, has clarified that she was not seeking any legal action against the company.

(With PTI inputs)