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Here’s a look at Nirav Modi’s paintings, rare watches and Rolls Royce that helped recover some of his dues

Here’s a look at Nirav Modi’s paintings, rare watches and Rolls Royce that helped recover some of his dues

  • Nirav Modi’s collection of most expensive paintings and rare watches was sold for over $7 million.
  • Ever since Modi escaped the country in 2018 a few days after the $2 billion Punjab National Bank scam broke, the Enforcement Directorate has been trying to recover money.
  • To get the right value, ED approached Saffronart — one of the leading auction houses in the world — to sell at least 40 pieces.
Diamond trader and fugitive Nirav Modi might have fled without paying up his dues, but the extensive art collection he left behind -- did a part of the job.

Ever since Modi escaped the country in 2018 a few days after the $2 billion Punjab National Bank scam broke, the Enforcement Directorate has been trying to recover money attaching assets his worth $1 billion.

To get the right value, ED approached Saffronart — one of the leading auction houses in the world — to sell at least 40 pieces. It includes a painting by M F Hussain, a luxurious 2010 Rolls Royce Car, designer handbags and luxury watches. Last year, Saffronart auctioned a cache of Indian and Chinese artwork to raise $8 million for the Income Tax department.

Here’s a look at some of the rare assets that went under hammer for $7 million:




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