PNB scam effect: Priyanka Chopra terminates contract with Nirav Modi brand

By Chennabasaveshwar

Updated: Friday, February 23, 2018, 15:43 [IST]

Actress Priyanka Chopra, the global brand ambassador of Nirav Modi Jewels, has terminated her contract with the brand in the wake of Rs 11,300 crore PNB scam. Priyanka Chopra's spokesperson issued the statement on Friday.

Priyanka Chopra, with a net worth estimated at $28 million, had signed a three-year endorsement contract with Nirav Modi Jewels in January last year. She is the only woman on Forbes magazine's top 10 highest paid Indian celebrities last year, with earnings of Rs 68 crore.

Meanwhile, the Enforcement Directorate (ED) on Friday said it has frozen bank deposits and shares worth about Rs44 crore of the Nirav Modi group, and seized a huge collection of imported watches from locations linked to the billionaire diamantaire.

Punjab National Bank is now making attempts to recover the dues from the jeweller who fled the country last month. Two central agencies - the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) - are investigating the matter and so far, five persons have been arrested.