Nirav Modi’s cars are on sale; you can buy online

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Online sale of Nirav Modi's car will start from April 18
Online sale of Nirav Modi's car will start from April 18

New Delhi : Prospective car buyers, there is a golden chance to buy the used car of Nirav Modi who has been charged with PNB scam, recently. After the sale of Modi's paintings, the enforcement directorate (ED) is likely to hold an online auction of the diamantaire’s 13 cars on April 18. Sources confirmed that the income-tax department has recovered Rs 54.84 crore from the sale of his art works.

Nirav Modi's cars include Rolls Royce Ghost, Porsche Panamera, two Mercedes Benz, three Honda cars, Toyota Fortuner and an Innova, among others. In the queue, the luxury car has been seized by the ED. Other cars are in good condition and expected to raise at least a few crores in the auction.

The sale of cars of Modi will be taken care by Metal Scrap Trade Corporation Limited (MSTC), a state-owned e-commerce company. Earlier, the I-T department’s auction was conducted by a private firm.

But, sadly, buyers cannot enjoy a test drive on the second-hand cars. They can only inspect the vehicles and the inspection is likely to be allowed a week before the auction. Sources said details such as the estimated cost, manufacturing year, the model, photographs, and documents will be available on the website in the coming week. “The auction catalogue is being prepared and the details will be put up on the MSTC website,” said an officer, adding, “The sale is likely to be held on April 18. We are finalising the arrangements and locations where bidders can check the vehicles before buying them.”

After the sale, the bidder will get a time period to complete the registration formalities. 

To inform, Nirav Modi's bail has been rejected by the Westminster Magistrates Court. It is the second time that his bail has been denied after the prosecution raised the prospect of him fleeing the UK, influencing witnesses and destroying evidence in the high-profile case.

It is likely that Nirav Modi will stay in the Wandsworth jail until the next hearing on April 26.