Mumbai-based art auctioneer Saffronart is to sell £4m ($5.2m) of artwork belonging to fugitive billionaire Nirav Modi on behalf of the Indian government's Tax Recovery Officer. The auction will take place in Mumbai from October 12 and 13. Modi, who has since been spotted in New York, Hong Kong and London has, through lawyers, expressed his innocence.
Mumbai-based art auctioneer Saffronart is to sell £4m ($5.2m) of artwork belonging to fugitive billionaire Nirav Modi on behalf of the Indian government's Tax Recovery Officer. Modi absconded from India last year after the 47-year-old was accused of committing fraud against the state-run Punjab National Bank of around $2bn. Modi, who has since been spotted in New York, Hong Kong and London has, through lawyers, expressed his innocence.