Rolls Royce for Rs 1 crore: Nirav Modi's 13 luxury cars up for auction

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Rolls Royce for Rs 1 crore: Nirav Modi's 13 luxury cars up for auction

The ED was authorised by a special court in Mumbai to auction Nirav Modi's 13 seized cars after the Rs 13,000 crore Punjab National Bank (PNB) scam came to the fore.

A Rolls Royce, originally worth Rs 5 crore, is up for grabs at a starting price at Rs 1.3 crore in Mumbai.

The luxury car is one of the 13 cars of fugitive diamantaire Nirav Modi that are being sold in an online auction in Mumbai by the Enforcement Directorate (ED).

The 13 cars include Rolls Royce Ghost, Porsche Panamera, two Mercedes Benz, three Honda cars, Toyota Fortuner, an Innova, and two Honda Brios among others.

The ED was authorised by a special court in Mumbai to auction Nirav Modi's seized cars after the Rs 13,000 crore Punjab National Bank (PNB) scam came to the fore.

As part of the auction, the bidders were given the option to inspect the vehicles from April 21 to April 23. They were, however, not allowed to take the vehicles for a test drive.

The photographs of the 13 vehicles have been uploaded on the site of Metal Scrap Trade Corporation Limited (MSTC). Other details like starting price, location of inspection, registration number, and model also find a mention. The contract for the auction has been given to MSTC.

The ED had initially decided to sell 11 vehicles "beneficially owned" by Nirav Modi after it obtained permission from a special court in Mumbai.

Earlier, paintings of Nirav Modi had gone under the hammer and fetched over Rs 54 crore for the income tax department.

The income tax department had sold 55 of the 68 paintings put up for auction at the Saffron Art gallery in Mumbai.

Fugitive diamond merchant Nirav Modi is currently undergoing extradition proceedings in the UK. His appeal for bail in a UK court was rejected by a lower court in London in the PNB fraud and money laundering case.

READ | Nirav Modi paintings go under hammer, fetch over Rs 54 crore for income tax department