Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

PNB scam: Nirav Modi’s HCL House to be auctioned

IANS
Updated: August 19th, 2022, 16:35 IST
in National
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Mumbai: The Debt Recovery Tribunal-I (DRT-I) has ordered the auction of a prime property belonging to absconder diamantaire Nirav D. Modi in one of the cases filed by Punjab National Bank (PNB) to recover a part of their whopping dues of more than Rs 2,133-crore.

As per the Mumbai DRT-I’s order, HCL House in Marol shall be put up for e-auction September 23, with a reserve price of Rs 52 crore, against the massive amounts outstanding since nearly five years to the PNB and 15 more banks.

Also Read

India-US trade

Ball in Washington’s court on India-US interim trade agreement before July 9: Sources

25 mins ago
Mahua Moitra

Moitra petitions SC, fears Bengal may follow Bihar on voter list update

4 hours ago

“Proclamation of sale under Rules 38, 52(2) of the second schedule to the Income Tax Act, 1961 read with the Recovery of Debts Due to Banks and Financial Institutions Act, 1993,” said the August 11 order by Recovery Officer Ajeet Tripathi.

The case pertains to PNB plus 15 public and private sector banks versus Nirav Modi’s group company Firestar International Ltd. and other known or new entities from whom the dues are recoverable.

The latest auction comes in the recovery process initiated by various banks after the infamous PNB scam of over Rs 14,000 crore erupted in the Indian banking sector in February 2018 — almost a month after Modi, his wife Ami and others fled the country (January 2018).

Following a complaint by the PNB, the Central Bureau of Investigation lodged the first offences in January 2018, and other agencies like Enforcement Directorate, Income Tax Department also got into the act, chasing the two prime accused — Modi, his maternal uncle Mehul Choksi — and many others including bank officers.

The group companies of Firestar International Ltd, include: Firestone Trading Pvt. Ltd., Radashir Jewellery Co. Ltd, and Paundra Enterprises Pvt. Ltd. — all three located in a single office in Bharat Diamond Bourse, Bandra east.

Some new entities have emerged for the first time — Bentley Properties Pvt. Ltd., Mak Business Enterprises Pvt. Ltd., ANM Enterprises Pvt. Ltd., NDM Enterprises Pvt. Ltd., besides the Neeshal Trading Pvt. Ltd. Curiously, all are shown as having a common address at No. 15, Nagindas Mansion in Opera House, south Mumbai.

Firestar International’s (Lower Parel) Directors are Modi, Angelina Nguyen and Haresh Vrajlal Shah, while Modi is also a Director with Radashir Jewelery (Bandra) along with Hemant Dahyalal Bhatt.

The other companies’ Directors, with most featuring in one or more entities, are: Ramesh M. Assar, Ketan C. Solanki, Manish L. Dani, and Paresh P. Rathod.

Till July 2022, various agencies like the ED have attached Modi’s properties worth a little over Rs 2,650 crore as he fights extradition proceedings in London, and certain assets like bungalows, plots, factories, luxury cars, expensive artworks, etc., have been periodically auctioned by various probe agencies to recover part of the stupendous dues to the banks.

Modi’s uncle Choksi of the Gitanjali Gems Group, also the prime co-accused in the PNB bank scam, is currently in Antigua & Barbuda.

For the September 23 auction of HCL House, the DRT-I has stipulated a refundable EMD of Rs 5.20 crore with the property physical verification of the property kept for September 19, and the last date for submitting EMD/Bids with an incremental value of Rs 20 lakhs, by September 21.

However, no details of revenue assessed on part or the full property, other liabilities, encumbrances or claims on the asset are available.

Tags: AuctionedHCL HouseNirav Modi
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019

Archives

Editorial

Politics of Philosophy

AAKAR PATEL
July 6, 2025

The BJP’s constitution (Article 3) says, “Integral Humanism shall be the philosophy of the party.” The party’s membership form has...

Read more

India’s Spy Shift

July 5, 2025

India’s espionage architecture is quietly shifting. The appointment of Parag Jain as the new chief of RAW comes at a...

Read more

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more

New Democratic Face

Zohran Mamdani
July 1, 2025

US President Donald Trump, who had comfortably defeated his Democratic rival Kamala Harris in the recent presidential election and exuded...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST