Nirav Modi's 13 luxury cars will be auctioned on November 7

Mumbai, Ta. November 3, 2019, Sunday

The auction of 13 vehicles belonging to accused Nirav Modi in the Punjab National Bank (PNB) scam will be auctioned on November 7 in Mumbai by the Enforcement Directorate (ED). The car also has a Bentley Arnage, which has a starting price of Rs. There are two crores.

Rs. Nirav is the main accused in the 13,000 crore scam and was arrested in London in March. He is currently in Wandsworth Prison, London. And he applied for bail, which will be heard on November 6th.

In August, the EDA applied for the Prevention of Money Laundering Act (PMLA) court seeking permission to sell the forfeited assets. If these items are kept for a longer period, the cost of maintaining them will be higher than its selling price, ”the ED told the court.

The proposed bidder has to pay the deposit to participate in the bidding process. Some of the 13 cars have been put down for auction again. Rolls Royce Ghost and Porsche Panamera cars cost Rs. 1.70 crore and Rs. 60 lakhs were put up for auction in June but due to no reason, the sale could not be completed.

Bidders will see this car on November 4th and 5th. The car is available at three locations in Kohinoor City's Basement Park in Grosvenor House Kurla (west) on Paddy Road, Worli Sea Palace. New auctioned cars are included in this auction.