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Published
Apr 2, 2019
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Nirav Modi’s cars to be auctioned as Bombay HC dismisses plea against painting auction

Published
Apr 2, 2019

Nirav Modi’s 13 luxury cars are set to be auctioned off by Metal Scrap Trading Corporation following the recent auction of a number of his paintings. The Bombay High Court dismissed appeals over the paintings auction whilst Modi resides in a UK jail.

Nirav Modi’s paintings have been auctioned off and next will be his cars as he awaits news of possible extradition in a UK jail - General News- Facebook


Thirteen of jeweller Nirav Modi’s luxury cars were seized by the Enforcement Directorate as part of the fraud case against him. These cars will now be auctioned off in an attempt to get back money that Modi is accused of fraudulently obtaining from the Punjab National Bank. The cars include a Rolls Royce Ghost and two Mercedes Benz. The cars are expected to accrue “a few hundred crores,” an official told the Economic Times. 

“We will put out public notices of the auction.. likely to be conducted on April 18,” an anonymous official from the central government agency told the Economic Times. “By this week, we will also share the details of the cars with MSTC.”

A collection of 68 of Modi and his businesses’ paintings were auctioned off by tax recovery officials and raised over Rs 54 crore ($8.12 million). On March 1, the business allegedly formed by Modi named Camelot Enterprises Pvt Ltd petitioned the Bombay High Court that the auction was unlawful, TNN reported. However, the court dismissed the petition and Justices Akil Kureshi and Sarang Kotwal stated that there was prima facie evidence that the paintings were owned by Modi’s businesses. They stated that the business could get the value of their paintings back with interest should they successfully appeal the tax authorities. 

Modi is currently residing in a London jail and his bail has been denied twice. The ED and Central Bureau of Investigation have met with Maharashtra jail authorities to discuss where to house Modi should he be successfully extradited to India. Modi may be held in Arthur Road Jail’s Barrack No 12, the same barrack that has been prepared for Modi’s fellow accused businessman Vijay Mallya should he be extradited from the UK. 

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