Nirav Modi's Assets to be auctioned
Fugitive businessman Nirav Modi's seized assets including artworks, luxury watches, handbags and cars will go under the hammer at Saffronart's two upcoming auctions.
The Mumbai-based auction house has been selected to host the sales on behalf of the Enforcement Directorate, government of India. While the first sale, a live auction, will be held on february 27 in mumbai, the second will be an online sale on march 3-4.
Highlights of the auction include 15 artworks by significant modern and contemporary indian artists like a 1935 masterpiece by amrita Sher-Gil which has never previously been auctioned and is estimated at Rs 12-18 crore, a significant oil on canvas by M F Husain from his "Mahabharata" series, also estimated at Rs 12-18 crore, a 1972 serene blue painting by v S Gaitonde estimated at Rs 7-9 crore, and a vivid red depiction of krishna by Manjit Bawa, estimated at Rs 3-5 crores, among others.