Home / India News / Auction of PNB fraud accused Nirav Modi's assets deferred to March 5

Auction of PNB fraud accused Nirav Modi's assets deferred to March 5

The delay comes under instructions from the Enforcement Directorate because a writ petition has been filed by Modi's camp to halt the sale, said a source aware of the auction

Premium

Boys with Lemons, 1935, by Amrita Sher-Gil is part of the Saffronart Spring live auction on behalf of the ED

2 min read Last Updated : Feb 27 2020 | 2:54 AM IST

An auction of art, cars, sculptures, and valuables of diamond jeweller Nirav Modi, who is accused of bank fraud, which was set to be held on Thursday, has been postponed to March 5.

The delay comes under instructions from the Enforcement Directorate (ED) because a writ petition has been filed by Modi’s camp to halt the sale, said a source aware of the auction and its related proceedings.

The auction is being conducted by Saffronart on behalf of the ED, and was expected to generate around Rs 40 crore in proceeds. A separate ‘Spring Online Auction’ will take place as scheduled on

Topics : Nirav modi Enforcement Directorate

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in