 "Nirav Modi")
Forty lots of fine art by masters, luxury watches, purses and bags, and a Rolls-Royce Ghost — confiscated from the estate of diamond tycoon Nirav Modi — garnered Rs 51.40 crore during an auction by Saffronart in Mumbai on Thursday.
Nirav Modi is accused of fraudulently appropriating billions from Punjab National Bank and is currently in a jail in London. Saffronart’s Spring Live Auction, conducted on behalf of the Enforcement Directorate, saw 100 per cent sell-out with an unexpected new market opening up for watches and handbags.
Auctioneer Dinesh Vazirani, founder of Saffronart, kicked off the evening by informing the
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