New Delhi : Fugitive diamond merchant Nirav Modi’s extravagant 40 assets garnered over Rs 51 crore in the second auction happened on Thursday. It included a Rolls Royce car, paintings of famous artists M F Hussain and Amrita Sher-Gil, designer handbags and other luxury items.
Husain’s 1972 work, titled, ‘Battle of Ganga and Jamuna: Mahabharata 12’ sold for Rs 13.44 crore at the auction.
A total of 40 lots — 15 artworks, a 2010 Rolls Royce Ghost and a selection of limited-edition and luxury handbags and watches — were sold at the auction.
Artist Arpita Singh’s ‘Twenty-Seven Ducks of Memory’ fetched a price below its lower limit of Rs 1.2 crore, which was the only item among all that were put up on sale.
The highest-selling watch was the Girard-Perregaux: ‘Opera One’ Triple Brodge Tourbillon, which had a higher estimate of Rs 5 lakh, but fetched Rs 95.20 lakh.
The Bombay High Court had refused to stay the auction of 15 paintings on Wednesday, seized by the ED.
Nirav Modi has been denied bail by a London court for the fifth time since his arrest in March last year. He was denied bail in the Punjab National Bank (PNB) fraud case.
Nirav Modi and his uncle Mehul Choksi are wanted for their role in the Rs. 13,570 crore loss to the PNB. Nirav Modi fled India for the United Kingdom to escape the law. However, he was tracked down and was arrested after investigating agencies moved for his extradition.
(With agency inputs)
