Actor Priyanka Chopra is currently seeking legal opinion to terminate her contract with Nirav Modi’s jewellery brand after the billionaire diamantaire was accused of cheating Punjab National Bank of Rs 280 crore. Chopra had appeared in one of the advertisement campaigns for Nirav Modi.

The CBI in January booked the jewellery designer and the three other accused after Punjab National Bank filed a case of fraud against them. The agency has issued a look-out notice against all accused. According to the bank’s complaint, Modi and his business partners were allegedly involved in fraudulently issuing Letters of Undertakings – or bank guarantees – at the bank’s Mid Corporate Branch in Mumbai’s Brady House.

There had been reports earlier on Thursday that Chopra was planning to take legal action against the brand for allegedly not paying her dues for the advertisement campaign. However, Chopra’s spokesperson denied the reports.

“There are speculative reports that Priyanka Chopra has sued Nirav Modi,” the spokesperson said in a statement. “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 Sidharth Malhotra, who had featured in the same advertisement with Chopra, said since his contract with Nirav Modi’s brand had already ended, he was not planning to take any legal action against the brand.

Earlier on Thursday, the Enforcement Directorate raided multiple locations related to Nirav Modi on the basis of the bank’s complaint. The agency’s teams conducted raids at three locations in Surat, four in Mumbai and two in Delhi. The ED’s case, filed under the Prevention of Money Laundering Act, is based on a first information report the CBI had earlier filed.