Bombay HC refuses to stay auction of rare paintings belonging to Nirav Modi

The BombayBombayBombay High Court Wednesday refused to stay March 5 auction of 15 rare paintings and other items owned by Rohin Trust of which fugitive diamantaire Nirav Modi, his wife and son Rohin are beneficiaries.

A bench of acting Chief Justice Bhushan P Dharmadhikari and justice N R Borkar asked the Enforcement Directorate (ED) to deposit auction proceeds in a separate bank account and directed that the amount should not be appropriated for any other purpose until further orders.

The plea filed by Rohin sought a direction to ED and auction house, Saffron Art, to not carry out the auction. The auction includes 15 rare paintings, including those painted by MF Hussain and Amrita Sher-Gil.