“There are speculative reports that Priyanka Chopra has sued Nirav Modi. This is not true,” a spokesperson for Chopra said. “She is currently seeking legal opinion on terminating her contract with the brand in light of allegations of financial fraud against Nirav Modi.”
Chopra, with a net worth estimated at $28 million, 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.
Apart from turning the spotlight on those promoting other brands associated with Nirav Modi, the scam exposes how difficult it can be to curb misleading ads by celebrities.
Representatives of actresses Kriti Sanon, the face of Gitanjali Jewellery’s Gili design collection, and Kangana Ranaut, who endorses Nakshatra diamonds, remained cautious. Gili and Nakshatra are owned by Gitanjali Gems, which is promoted by Mehul Choksi, Modi’s maternal uncle who was also named in the complaint filed by Punjab National Bank.
“At the time of signing contracts, details of the companies involved are examined carefully and if there is no inkling of anything wrong, we obviously go ahead,” said Atul Kasbekar, the promoter of talent management firm Bling Entertainment Solutions, which represents Ranaut. “In cases where wrongdoing is proved later, we generally reassess contracts — that is the general practice.”
“The matter is legal and we would not want to comment on it,” said Vijay Subramaniam, cofounder of Kwan Entertainment, the agency representing Sanon, who signed up as brand ambassador of Gili last year. Actor Sidharth Malhotra was roped in along with Chopra as the face of Nirav Modi Jewels. Malhotra told ET in a text message: “My contract was for just one day and that expired long ago.”
Chopra had said her association with Modi was like “a meeting of minds” in many ways.