If father also wants to buy Nirav Modi's property and assets then get ready. Punjab National Bank is going to auction two properties of fugitive Nirav Modi. One of the assets to be auctioned is solar plants. Whose value is being estimated at more than Rs 12 crore. On the other hand, there is a flat located in South Mumbai. The price of the flat located in this posh area is said to be more than Rs 11 crore. In fact, this auction is being done to recover a small part of the dues of Rs 2348 crore of Punjab National Bank. Whose order has been issued by the Debt Recovery Tribunal-1 of Mumbai.
Which properties will be auctioned?
Modi's solar plant located in Khandel village of Maharashtra has a capacity of 5.247wMW. The cost of solar plant including plant and machinery is Rs 12.40 crore. On the other hand, Modi's Pedder Road flat is on the second floor of Grosvenor Building. Two parking lots are also available with this flat. The flat and both parking lots will also be auctioned. Whose total value is Rs 11.70 crore. Additionally, DRT-1 plans to auction two large land-parcels belonging to Nirav D. Modi and his group company, Firestone Trading Pvt. Ltd. Both the land parcels are currently mortgaged with Union Bank of India. In exchange for these two lands, a loan was given by the bank to Nirav Modi.
Auction will be held on this date
According to the notification of DRT-1, the online auction of all listed assets will be held on October 25 between 2-4 pm. Nirav Modi was arrested in March 2019 on an extradition warrant based on the allegations of the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED). Nirav Modi and Mehul Choksi are accused of fraud of more than Rs 13 thousand crore with PNB. After which he ran away to London.
No comments:
Post a Comment