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Home India

Nirav Modi’s paintings and vehicles to be auctioned, ED gets permission to sell his assets

by Manjusha P Mohanan
March 20, 2019
in India, News
0
Nirav Modi’s paintings and vehicles to be auctioned, ED gets permission to sell his assets
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The provisional arrest warrant against the billionaire, who was recently spotted on the streets of London wearing an Ostrich skin jacket worth almost Rs 10 lakh, was issued by the Westminster court.

What can be termed as a major victory for the Enforcement Directorate, the PMLA court in Mumbai has given permission to the ED to sell 173 paintings and 11 cars of fugitive billionaire diamantaire Nirav Modi. The court has also issued non-bailable warrant (NBW) against Ami Modi, wife of Nirav Modi. Earlier today, Nirav Modi was arrested from London’s Holborn metro station, UK Police was quoted as saying by ANI. He will be produced in Westminster court later today.

The provisional arrest warrant against the billionaire, who was recently spotted on the streets of London wearing an Ostrich skin jacket worth almost Rs 10 lakh, was issued by the Westminster court. On March 18, the court had issued an arrest warrant against Nirav Modi in response to a request by the Enforcement Directorate (ED) for his extradition from the UK in a money laundering case.

A special court under the Prevention of Money Laundering Act (PMLA) has granted permission to the Income Tax Department (I-T) to auction the paintings and cars of Nirav Modi, the fugitive businessman whom the Scotland Yard arrested on Tuesday afternoon (local time) in London.

ED Sources: Enforcement Directorate gets permission from PMLA court in Mumbai to sell 173 paintings and auction 11 cars of Nirav Modi pic.twitter.com/HFqlzUbhCJ

— ANI (@ANI) March 20, 2019

ED Sources: Enforcement Directorate gets permission from PMLA court in Mumbai to sell 173 paintings(in pic-one of the paintings). 11 cars to also be auctioned. NBW has been issued by PMLA court against Ami Modi, wife of Nirav Modi pic.twitter.com/0pw6EuV1k9

— ANI (@ANI) March 20, 2019

It is said that 173 paintigs and 11 cars will be auctioned.

Tags: carscbiEDIndiaMehul Choksimumbainirav modiPaintingsPMLA actPMLA CourtPNB scamUK
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