Saffronart to auction Nirav Modi's seized assets again on February 27

This is the second time a government agency has roped in Saffronart to recover some of the money siphoned off by Nirav.

Mumbai-based Saffronart will auction Nirav Modi’s assets next month, which the Enforcement Directorate had seized from the diamantaire. More than 100 lots, including paintings, watches, handbags, and cars belonging to the fugitive diamond merchant, will go under the hammer in a live auction on February 27, and online sales on March 3 and 4 this year.

The businessman, who was accused in February 2018 of defrauding Punjab National Bank of more than Rs 13,700 crore, fled the country the same year. Currently in the UK, he faces extradition to India, with a trial scheduled for May.

This is the second