Nirav Modi assets to be auctioned tomorrow

Rare paintings, exquisite wrist watches and luxury cars belonging to fugitive diamantaire Nirav Modi will be auctioned next month, auction house Saffronart said on Wednesday.

The sale of 112 assets is being done by Saffronart on behalf of the Enforcement Directorate through a live auction, while 72 other items would be sold through an online auction.

Modi, who has allegedly defrauded state-run Punjab National Bank of over Rs 14,000 crore, is currently lodged in a British jail.