Fugitive Diamantaire Nirav Modi's Artwork Collection Fetches Rs 59.37 Crore At An Auction By The I-T Department in Mumbai

General News

Works of art, including rare paintings worth crores that were once part of fugitive businessman Nirav Modi's collection and seized by the government is set to go under the hammer on Tuesday.

Written By Daamini Sharma | Mumbai | Updated On:

Nirav modi's paintings auction list :- 

1. Jyoti Bhatt - 75,000 k 
2. Jogen chowdhury - 46 lacs 
3. Bhupen Khakhar - 35 lacs 
4. FN Souza - 5 lac 58 k 
5. FN Souza - 5 lac 50 k 
6. FN Souza - 4 lac 50 k
7. FN Souza - 8 lacs 
8. FN Souza - 32 lacs
9. FN Souza -  90 lacs 
10. K k Hebber - 40 lacs
11. K k Hebber - 40 lacs
12. S L Haldankar - 3 lac 50 
13. Raja Ravi Varma - 14 cr 
14. Baburao Painter - 8 lacs
15. Vasudeo Pandya - 9 lacs 
16. Sudhir Khastagir - 6 lacs
17. Sailoz Mukherjea - 13 lacs 
18. Vishwanath Nageshkar - 4 lacs 
19. Badri Narayan - 4 lacs 50 k   
20. Akbar Padamsee - 30 lacs 
21. Akbar padamsee - 1 cr 50 lacs 
22. Buwa shete -  1 lac 50 k
23. B Prabha - 10 lacs
24. Jagdish Swaminathan - 70 lacs 
25. F N Souza - 1 cr 55 lacs - mum
26. F N Souza -  1 cr 20 lac
27. F N Souza -  80 lacs
28. F N Souza - 40 lacs
29. Bijon Choudhary - 1 lac 20 
30. Abani sen - 3. 5 lac
31. Rameshwar broota - 65 lac.
32. N S Bendre - 18 lacs
33. Arpana Caur - 8 lacs 
34. Jogen chowdhury - 3 lac 5
35. S g Vasudev - 3.5 lacs
36. Alphonso Doss - 3.8 lacs
37. VS Gaitonde - 22 cr
38. K Laxma Goud - 8 lacs 50 k
39. H A Gade - 14 lacs 
40. H A Gade - 36 lacs 
41. Gurucharan Singh - 11 lacs 
42. Nalini Malani - 7 lacs 
43. Jitish kallat - 60 lacs 
44. T M Aziz - 2.2 Lacs
45. Sunil Padwal - 2.80 
46. Sunil Padwal - 5.50
47. Atul Dodiya - 60 lacs 
48. Rajesh Pullawar - passed 1 lac 40 
49. Dhruv Mistry - 5 lacs 50
50. Rekha Rodwittiya -passed at 7 and half lacs
51.  Rekha Rodwittiya - Passed at 7 1/2 lacs
52. Justin Ponmany - passed at 5 lacs
53.  Reena Saini Kallat - passed 5.5 lac
54 . Subodh Gupta - 75 lacs
55. Sadanand Shirke - passed at 2 lacs 
56. Neeraj Goswami - 5 lacs
57. Om soorya - 5 lacs 
58. Sudhanshu Sutar- 6 lacs  
59. Sarika Mehta - 3 lacs 80 
60.  Wu Yi -11 Lacs
61.  Ge guanzhong - 13 lacs 
62. Xu lei - 65 lacs 
63. Miao xiaochun - passed 2 lacs 20 
64. Chen ke -  19 lacs 
65. Bharat sikka - passed 2 lac 80
66. Raghubir Singh - 5 lac 50
67. Vivan Sundaram - 4 lacs 20
68. Jangarh Singh shyam - 10 lacs 50 k


Update at 10:12 PM- Absconding Diamantaire Nirav Modi's artworks fetch Rs 59.37 crore at an auction by the income tax department 


Name of the painter and price at which the paintings were sold at the auction: 

1) Jyoti Bhatt - 75K


2) Jogen Chowdhury - 46 Lakhs 


3) Bhupen Khakhar - 35 Lakhs 


4) F N Souza - 5.50 Lakhs


5) F N Souza - 5.50 Lakhs


6) F N Souza - 4.50 Lakhs


7) F N Souza - 8 Lakhs


8) F N Souza - 32 Lakhs


9) F N Souza -  90Lakhs


10) K K Hebber - 40 Lakhs 


11) K K Hebber - 40 Lakhs 


12) S L Haldankar - 3.50 Lakhs

Raja Ravi Varma- 14 crores

 


Works of art, including rare paintings worth crores that were once part of fugitive businessman Nirav Modi's collection and seized by the government is set to go under the hammer on Tuesday. Saffronart, the auction house appointed to conduct the sale has put paintings by Modi will be part of their Spring Live auction of Modern and Contemporary Art, that also includes works of national art treasure Raja Ravi Varma and modern artist VS Gaitonde. Apart from artworks seized from Modi, the auction also includes a collection of Chinese paintings.

In total, 68 paintings of Modi will be auctioned on behalf of tax recovery officer of the Income Tax department in the sale that is scheduled to begin at 7 pm on Tuesday and which will also see simultaneous bidding online. Auctioneers have estimated total worth of the artworks as between Rs 30 and Rs 50 crore.

The Chief Executive Officer and co-founder of Saffronart, Dinesh Vazirani, said, "We believe that the collection's intrinsic value will garner a positive response from collectors."

Last week, a special court in Mumbai had allowed the Income Tax department to undertake the auction of the paintings and deposit the proceeds to the court till further orders.

Nirav Modi Modi is a defaulter of Income Tax, so the department took permission of the court for auctioning these paintings which were seized by Enforcement Directorate in PNB case investigation.

This comes a week after Modi was arrested by the Scotland Yard in connection with a loan default case in India on last Tuesday. He was produced before a London court which sent him to the jail after rejecting his plea for bail. He will be in the judicial custody till March 29.

Read: "Following Up With A View To Having Nirav Modi Extradited To India At The Earliest", Government Of India Issues Statement On Fugitive Diamantaire's Arrest

Moreover, Fugitive diamond merchant Nirav Modi, wanted in India on fraud and money laundering charges amounting to USD 2 billion, is set to appear before Westminster Magistrates Court in London on Friday, when his legal team will make a second bail application.

The 48-year-old had been denied bail by District Judge Marie Mallon at his first hearing soon after his arrest by Scotland Yard officers from a central London bank branch as he tried to open a new bank account and has been in custody at HMP Wandsworth prison in south-west London since March 20.

"He is expected to be produced before the court for a second bail application hearing on March 29," a court official confirmed on Tuesday.

On December 28, 2018, British authorities had informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said. Replying to a question, Minister of State for External Affairs V K Singh told Rajya Sabha that National Central Bureau of Manchester conveyed to Indian agencies that their investigations have led to the location of Nirav Modi in the UK.

In August earlier this year, Republic TV was the first to track down the exact addresses of the PNB-scam accused, which located to London. The Gitanjali Gems chief's hideouts in London were also mentioned in extradition notices that were served to Nirav Modi by the CBI. The fugitive fraud-accused's first hideout was located in London's fashionable and central Westminster area.

Nirav Modi is the prime accused in the Rs 13,400 crore PNB scam. He and his uncle Mehul Choksi are being investigated by the agencies for their role in the scam. The scam, which reportedly began in 2011, was detected in January this year, after which PNB officials reported it to the probe agencies. Two criminal complaints were filed by the ED in this regard after taking cognisance of CBI FIRs.

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