The Enforcement Directorate will sell 173 paintings and 11 vehicles “beneficially owned” by Nirav Modi, prime accused in the Rs 14,000- crore PNB credit fraud case, after the agency obtained permission from a special PMLA court in Mumbai on Wednesday.
The special PMLA court also issued a non-bailable warrant against his wife Ami Modi after the ED recently filed a supplementary charge sheet underlining her role in the PNB scam.
The ED will put on sale the 173 paintings of Modi which are valued at Rs 57.72 crore and eleven vehicles that include Rolls Royce, Porsche, Mercedes and Toyota Fortuner.
Officials said a public auction will be held later this month to monetize the seized items.
The court also allowed the Income Tax Department to sell another 68 paintings seized by it as part of its separate probe against the fugitive diamantaire.
Modi was arrested by the Scotland Yard from the Holborn area of London on Wednesday.
