SEIZED ITEMS MAY BE AUCTIONED

Demolition of Nirav Modi’s Alibaug bungalow began on January 25, after an HC order to raze all illegal constructions in the area

The diamantaire’s Alibaug bungalow had been attached by the enforcement directorate on February 24 last year in connection with the

Prevention of Money Laundering Act (PMLA) probe against Nirav

In January this year, the Bombay high court (HC) ordered the Raigad collector to demolish all illegal bungalows flouting coastal regulation zone

(CRZ) norms in Alibaug

As this included Nirav’s Alibaug property, the collector wrote to ED seeking possession

ED approached the HC, seeking directions on whether it should hold on the bungalow or hand it to the collector

After HC refused to intervene, the ED handed it over to the

collector

WHAT WAS SEIZED FROM ALIBAUG RESIDENCE WHAT WAS SEIZED FROM WORLI HOME The ED had, in March last year, seized items collectively worth ₹26 crore from Nirav’s Samudra Mahal residence in Worli

This included high-end and antique jewellery, valued at ₹15 crore, high-end watches valued at ₹1.40 crore and paintings of approximately

₹10 crore

The paintings – which included works by MF Hussain, Hebbar and Amrita Shergil – had been kept in a climate controlled hall High-end cars, including a Rolls Royce Ghost, a Mercedes Benz, a Porsche Panamera, three Honda variants, a Toyota Fortuner and an Innova, were seized

The Alibaug home was handed over to the Raigad collector by ED.