Mumbai: The Directorate of Enforcement (ED) has an asset attached worth Rs 1,000 Crore, including buildings that have accommodated the rhythm home music store at Ghoda, a flat road Nepeansea, an office building in Kurla and jewelry, in Diamantaire Nirav Modi on a court order for the court order for Auctioned to restore Punjab National Bank contribution (PNB).
The national tribunal law company has appointed liquidators to auction of properties.
Ed has released several of these properties and is in the process of providing other ownership, which includes solar power plants in Ahmednagar Regency, to the bank for auction.
The agency has also submitted to PNB around RS 6 Crore which has recovered beforehand after auctioning cars, paintings, and other expensive items owned by fashionable modi has been suspected of default RS 6,500 Crore PNB loans through fraud (LOU) and ED assets Confiscated worth RS 2,600 Crore in the case of money laundering was being investigated against him.
Modi is currently nesting in prison in London, facing extradition to India.
Some modi properties that are not pawned with banks, including four luxury flats in the expensive Ocean Building in Worli worth more than Rs 100 Crore, Alibaug bungalows and windmills in Jaisalmer, will remain in possession.
The investigation body does not yet have its nature abroad, including in the US.
Allegedly that Modi had bought a lot of this property through the money he defenses from PNB.
In 2017, he had bought the rhythm of the iconic rhythms through his company firestar diamond from the owner, Kurmal family, for Rs 32 Crore.
The plan is to change the inheritance property into an upscale jewelry showroom.
In 2018, after Modi escaped from the country with his family, Ed had attached the house of the rhythm home along with other properties and confiscated them after the legal process.
Then, Industrialist Anand Mahindra has proposed crowdfunding to save an iconic music store and turn it back on.
He also met the ED official to discuss the auction process.
Even the BMC BUMT committee has held a discussion to obtain structures for public purposes, including music promotion.
Rhythm House among the 1,000cr Nairav Modi RS assets for auctioned
