Nirav’s seized vehicles to go up for auction again
MUMBAI: The Enforcement Directorate (ED) will auction 13 vehicles linked to diamantaire Nirav Modi, who is wanted in India for financial irregularities linked to the Punjab National Bank (PNB), on November 7.
The ED seized the vehicles after it charged Nirav with money-laundering in the PNB fraud case.
The vehicles include Bentley’s sports sedan Arnage, which is up for e-auction at a start price of Two crore eighty thousand rupees, priced the highest among any of his luxury cars auctioned earlier. Others cars to go under the hammer include a Rolls Royce Ghost and a Porsche Panamera.
A Skoda Elegance, owned by Nirav’s brother Neeshal Modi, against whom the Interpol has issued a Red Corner Notice (RCN), has also been included in the auction for a starting price of ₹5.25 lakh.
The starting price for the vehicles was decided based on their age and amount of usage. “The newly seized cars found during the investigation have been added for auction,” said a person familiar with the matter said.
Some of these cars are being re-auctioned as their sale after the first auction could not materialise.
Bidders will be able to inspect the vehicles on November 4 and 5 at three locations –Samudra Mahal in Worli, Grosvenor House at Peddar Road and the basement parking of Kohinoor City in Kurla (west).
Modi has filed a fresh bail application in a London court on health grounds. The hearing is scheduled for November 6. Modi is lodged in London’s Wandsworth jail since his arrest in March.