Nirav Modi’s 13 Cars to be Auctioned
Diamantaire Nirav Modi’s luxurious assets are being auctioned by the Enforcement Directorate.
Nirav Modi committed fraud of Rs. 13,000-crore scam against the Punjab National Bank (PNB) last year. He was arrested in London in March, this year. The Enforcement Directorate (ED) had seized many of his assets such as watches, cars, and paintings in August. The ED then took permission from the court to sell these assets because maintaining these items are very expensive. Selling the assets will help to recover the money that Nirav stole. This is why the ED has decided to auction 13 luxury cars owned by Nirav Modi. His Rolls Royce Ghost will be auctioned for Rs 1.70 crore and Porsche Panamera will be auctioned for Rs 60 lakh.
A Bentley Arnage will also be auctioned and the starting price will be Rs 2 crore. The prices of the cars are based on the age and use. Many of the cars have VIP number plates as well. Not all the cars are luxury cars. Nirav’s Brother Nishal Modi’s Skoda Elegance, will also be auctioned for Rs 5.25 lakh.
