Wednesday, April 21, 2021
Home News Reports ED auctions Nirav Modi's luxury cars, paintings and watches, fetches Rs 53.45 crores

ED auctions Nirav Modi’s luxury cars, paintings and watches, fetches Rs 53.45 crores

The 1935 Amrita Sher-Gil painting, titled, 'Boys With Lemons' fetched the highest price of Rs 15.68 crore. Another painting by MF Husain titled 'Battle of Ganga and Jamuna: Mahabharata 12' fetched Rs 13.44 crore.

The Enforcement Directorate on Thursday auctioned luxury cars, sculptures and personal objects of value including watches and designer handbags, belonging to fugitive businessman Nirav Modi and his wife Ami Modi, fetching Rs 53.45 crores.

As per a report in The Hindu, a total of 112 luxury items in 40 lots including 15 artworks, a 2010 Rolls Royce Ghost and a selection of limited-edition luxury handbags, watches went under the hammer on Thursday in Mumbai.

The 1935 Amrita Sher-Gil painting, titled, ‘Boys With Lemons’ fetched the highest price of Rs 15.68 crore. Another painting by MF Husain titled ‘Battle of Ganga and Jamuna: Mahabharata 12’ fetched Rs 13.44 crore. Raja Ravi Varma’s Untitled artwork was sold for Rs 2.8 crore at the auction.

Among the bids were VS Gaitonde’s Untitled, which was auctioned for Rs 9.52 crore, and Manjit Bawa’s Untitled, dated 1992, sold at Rs 6.16 crore. Apart from paintings, Nirav Modi’s Rolls-Royce Ghost was sold for Rs 1.68 crore. Luxury watch Girard-Perregaux wristwatch got sold for Rs 95.2 lakh, Audemars Grande Complication wristwatch for Rs 78.4 lakh and Patek Philippe’s gold-diamond wristwatch fetched another Rs 72.8 lakh for the ED.

The sale also featured several branded handbags, including the iconic Birkin and Kelly lines by luxury goods manufacturer Hermès. A Hermes Kelly Blue Atoll bag tripled its estimate to sell for Rs 17.9 lakh.

Besides Thursday’s live auction, another 80 lots, including handbags and wristwatches, were auctioned online by Saffronart and raised Rs 2.04 crore.

Read: Nirav Modi crackdown: ED finds imported watches stacked in 176 steel almirahs, freezes more bank accounts

The auction conducted by Saffronart was a complete success, raising Rs 53.45 crore for the enforcement directorate (ED). It is the first time a professional auction house had been appointed by the ED to conduct an auction of seized assets in the country.

The auction, sanctioned by court order, is part of efforts by the government to sell assets confiscated in criminal cases with the proceeds used to repay the debts to the banks. The Mumbai-based auctioneers Saffronart was selected to host the sales on behalf of the Enforcement Directorate.

Fugitive businessman and prime accused in the Rs 14,000 crore PNB scam, Nirav Modi is currently lodged in the Wandsworth jail in southwest London and has been denied bail on four occasions. Modi had been arrested in London on March 20, 17 months after he fled India.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staff
Staff reporter at OpIndia

Related Articles

Trending now

AAP supported farmer protests hampering war against Covid-19, oxygen supplier writes to GOI saying tankers delayed due to roadblocks by protestors

Inox Air Products said that they are facing delays in Delhi while transporting oxygen due to road blockades by the farmer protestors

After getting vaccinated himself, Rakesh Tikait says the Modi government will be responsible if farmers get COVID-19

Rakesh Tikait had recently said that 'farmers' protests is not Shaheen Bagh than can be stopped in the name of coronavirus

How China’s ‘Re-education through labour’ policy put minorities in labour camps even before the Uyghur crisis: About the Masanjia camps

The letter went into detail about the conditions at China's Masanjia Labor Camp, including the gruelling hours, verbal abuse and physical abuse

From sitting on upturned dustbins to photo ops at crematorium grounds, Barkha Dutt gets questioned for her ‘vulture journalism’

While the situation on ground is indeed grim, people on social media have been calling out the dramatics by journalists who could have perhaps focused on the news instead of their brand building.

Maharashtra FDA minister embarrasses his own govt and alliance leaders, says his ministry had approved Remdesivir procurement by BJP

Maharashtra FDA Minister and NCP leader Dr. Rajendra Shingne confirms that he was aware about BJP procuring Remdesivir for state govt

Journalism: The new performance art

With the COVID-19 pandemic, journalists have screamed "Beware of the Ides of March" to anyone who would listen - Barkha Dutt for example.

Recently Popular

Understanding the hate factory: How Rohan Joshi and his hateful post against Hindus gives us an insight into the ‘liberal’ mind

Comedian Rohan Joshi tells Bhakts, "I have nothing but contempt for them and nit a shred of empathy" as he mocks Coronavirus deaths

Maharashtra Remdesivir ruckus: Saket Gokhale brazens his lies by filing complaint against Fadnavis, BJP returns favour. Details

A complaint has been filed against Saket Gokhale by a BJP member in which the complainant has accused the Congress supporter of lying and waging a war against the state in the midst of a pandemic

Filmmaker Hansal Mehta challenges for free flight tickets to Pakistan but goes into hiding after Twitter user provides it. Read what happened

Hansal Mehta's flight to Pakistan via Dubai is scheduled for 20th April, 2021. We shall keep you posted if Mehta goes to Pakistan or will he register his name in long list of paper tigers.

Delhi couple abuses cops over masks in viral video, husband blames wife after arrest

Police have booked and arrested a Delhi couple after the duo misbehaved with the personnel over masks. The video went viral.

250 ventilators sent by central govt lied unutilized in the state of Punjab amid the second wave of coronavirus

250 ventilators sent by the central government to Punjab for use in government hospitals were lying unused till late March.

When ‘comedians’ double up as doctors and believe ‘Bhakts’ deserve the misery as Chinese coronavirus rages

You will never see them questioning how many mosques have opened up their gates as medical facilities. Because, everyone likes to keep their heads.
- Advertisement -


Connect with us