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1-min read

Nirav Modi, Mehul Choksi's 13 Luxury Cars Auctioned on Behalf of ED

A MSTC official said that by 4 p.m. the highest bidders shall be known and communicated to the ED which will take the final decision on awarding the successful bids.

IANS

Updated:April 25, 2019, 3:39 PM IST
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Nirav Modi, Mehul Choksi's 13 Luxury Cars Auctioned on Behalf of ED
Nirav Modi's cars for auction.
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Thirteen luxury cars owned by fugitive diamantaires Nirav Modi and his uncle Mehul Choksi went on online auction by the Metals & Scrap Trading Corporation, in Mumbai on Thursday. The auction is being carried out on behalf of the Enforcement Directorate (ED) which had seized these vehicles from Modi and Choksi last year.

The vehicles include a silver Rolls Royce with a reserve price of Rs 1,33,00,000, a Porsche worth Rs 54,60,000, a red Mercedes Benz Rs 14,00,000, a white Mercedes Benz Rs 37,80,000 and a BMW Rs 9,80,000.

Besides, there are two Honda Brio, Toyota Innova, Honda CRV, Toyota Fortuner, Skoda Superb Elegance, Toyota Corolla Altis and Toyota Innova Crysta.

Of these 13 vehicles, the BMW and Toyota Innova Crysta belong to Choksi and the rest belong to Modi, his family and his group companies.

Prior to the auction, the prospective bidders were permitted physical inspection of the vehicles at various locations earlier this week.

A MSTC official said that by 4 p.m. the highest bidders shall be known and communicated to the ED which will take the final decision on awarding the successful bids.

The ED auction follows an order of the Special PMLA court permitting the sale of these cars.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Arjit Garg
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