Wednesday, October 28, 2020
More
    Home News India What are some assets of PNB scam accused Nirav Modi that will...

    What are some assets of PNB scam accused Nirav Modi that will be auctioned?

    The Enforcement Directorate will auction PNB scam accused Nirav Modi's seized assets over the next two months.

    Popular

    Bollywood actesses who were launched by Salman Khan

    These are the Bollywood actresses who were launched by Salman Khan in the Hindi film industry
    00:01:15

    Hollywood Celebrities Mourn The Death Of James Lipton

    Hundreds of Hollywood stalwarts were given to James Lipton, an actor-turned-drama-school-dean to open up regarding their life and art and became an unexpected star.

    Television couples who went in for live in relationships!

    Many celebs from the tinsel town have opted for a live-in relationship. To know which are those couples, read on this article

    Priyank Benafsha Unfollow Each Other On Their Instagram Accounts

    Two actors unfollowing each other on social media especially twitter and instagram these days is very normal and common but two people...

    Bigg Boss 14: Jasmin Says She Follows No Strict Diet

    Ace TV Actress Jasmin Bhasin has been successfully ruling the hearts of the audiences since her debut serial Tashan E Ishq (Zee...

    The seized assets of Indian diamond magnate Nirav Modi, arrested in Britain last year over fraud allegations, will be auctioned within the next two months, the Mumbai-based Saffronart auctioneers said on Tuesday.

    The auction, sanctioned by a court order, is part of efforts by Prime Minister Narendra Modi’s government to sell assets confiscated in criminal cases with the proceeds used to shore up banks struggling with piles of bad debt.

    Modi, a billionaire jeweller in his late forties whose diamonds have adorned Hollywood stars such as Kate Winslet and Dakota Johnson, was arrested over allegations of his involvement in a $2 billion fraud at state-run Punjab National Bank (PNB). He has denied the charges and is opposing efforts to extradite him from Britain to India.

    Highlighting Saffronart’s auction of Modi’s assets – seized by India’s financial crime-fighting agency, will be “Boy with Lemon” by pioneering Hungarian-Indian modernist artist Amrita Sher-Gil valued at Rs 12-18 crore ($1.69-$2.53 million).

    Other paintings to be sold will include an oil on canvas by India’s best-known painter MF Husain of similar value, and a work worth Rs 7-9 crore by modernist VS Gaitonde.

    Also on the block will be luxury wristwatches from Jaeger Lecoultre and Gerrard Perregaux, several Birkin and Kelly luxury handbags from Hermès and two cars – a Porsche Panamera and a Rolls Royce Ghost, a Saffronart statement said.

    It said it was assessing the value of some assets and would say next week how much it expected to raise from the auction.

    Indian tax authorities raised about $8 million in an auction conducted last year by Saffronart of rare oil paintings that were seized from Modi.

    The pending auction, however, will be the first time India’s financial crimes agency has appointed a professional auction house to sell off seized assets, according to Saffronart.

    For latest entertainment news, bollywood news, hollywood news, celebrity gossips, latest movie reviews, entertainment news and gossips in hindi - follow Lehren on Facebook, Twitter and Youtube.

    ↓   Keep Scrolling for NEXT STORY   ↓

    Top Picks

    Photos: Tamannaah Bhatia slays the blazer look

    Tamanna Bhatia, also known as 'Milk Beauty' of the B-town recently spotted at Bandra, Mumbai. Tamannaah was looking stunning in a...

    India vs Australia: Tour Dates Confirmed As Both Teams Lock Horns On Boxing Day

    Amid the coronavirus pandemic, the cricket matches across the globe got cancelled. Back in the month of July, the international cricket...
    00:03:42

    Ma, Bahen, Bloody Menace and Pankaj Tripathi – Mirzapur 2 Review By Bharathi Pradhan

    Dear Pankaj Tripathi So you’ve returned to your mansion in Mirzapur as Akhandanand alia Kaleen Bhaiya once again. 10...
    00:26:15

    Luviena Lodh EXPOSES Mahesh Bhatt In A Press Conference

    Bollywood actress Luviena Lodh recently addressed a press conference and made huge accusations against her husband Sumit Sabharwal and filmmaker Mahesh Bhatt....

    Shraddha Kapoor To Play The Role Of Shape-Shifting Naagin In Her Upcoming Venture?

    Actress Shraddha Kapoor enjoys a massive fan following and she is adored by all her fans. She has cemented her place...

    Also Read

    Netflix’s Bad Boy Billionaires in Trouble; Sahara Group Demands Ban

    Netflix’s Bad Boy Billionaires is in trouble with Sahara Group for allegedly portraying their company in bad light. The...

    Chidambaram To Nirav Modi: Fraudsters Who Fled The Country

    Since 2015 hundreds of cases of high profile scams are registered with Economic Offences Wing (EOW), Mumbai. Let’s have a look at the list of 5 fugitive economic offenders who are absconding from India.

    Trending

    Shaheer Confirms His Relationship With Ruchikaa On Instagram

    Shaheer Sheikh is one of the very few A list TV actors in our industry today who has successfully created a place...

    Rupal Patel Recreates Iconic Rasode Mein Kaun Tha Scene

    In this lockdown after the viral musical dialogue "Rasode Mein Kaun Tha" meme by youtuber and musician Yashraj Mukhate, the show started...

    Priyank Benafsha Unfollow Each Other On Their Instagram Accounts

    Two actors unfollowing each other on social media especially twitter and instagram these days is very normal and common but two people...

    Akanksha Feels Insecure Due To Devoleena And Rupal

    We know that young actors are always warm and welcoming to their senior cast members in any TV serial’s shooting sets but...
    00:01:09

    Rasika Dugal Gives A Mirzapur Twist To Rasode Mein Kaun Tha Meme

    Rasika Dugal has come up with her version of Rasode mein kaun tha meme, however, there’s a Mirzapur twist to the viral...