mumbai sources stated that rare paintings, exquisite wrist watches and luxury cars belonging to fugitive diamantaire Nirav modi will be auctioned from Thursday. The sale of 112 assets is being done by Saffronart on behalf of the Enforcement Directorate through a live auction, which will be followed by an online one for 72 items. Meanwhile modi, who has allegedly defrauded state run punjab National bank of over Rs 14,000 crore, has been behind bars at Wandsworth in england since his arrest on march 19.
Furthermore an extradition warrant was executed by the scotland Yard based upon the charges brought by the indian government. His bail petitions have also been turned by the UK high court.Saffronart, which had conducted an auction of some artworks belonging to modi in march last year to fetch over Rs 55 crore, said there will be a live auction of 112 items on thursday, which will be followed by an online auction next week.
Perhaps among the luxury cars, a Rolls Royce Ghost, which will also be up for grabs for bidders on thursday, is expected to fetch up to Rs 95 lakh, it said, adding the car is ideal for long distance travel. The auction house said the online auction will be conducted on march 3 and 4, and will have 72 items including a porsche Panamera S car which could be sold for up to Rs 15 lakh.
