Diamantaire Nirav D. Modi, who is accused in the Punjab National Bank fraud case, will see two of his prime properties in Pune go under the hammer in February 2023 to recover dues in the fraud case. The Debt Recovery Tribunal-I (DRT-I), Mumbai, Recovery Officer Ashu Kumar has ordered the e-auction of the two properties, an IANS report said. The order was issued on December 28 and was addressed to Stellar Diamonds, Solar Exports, Diamond R US, ANM Enterprises Pvt. Ltd, NDM Enterprises Pvt. Ltd.
Nirav Modi and Mehul Choksi are the two prime accused in the multi-crore bank fraud case. They are facing a probe by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI). The auction of these properties is being done to recover some part of the PNB’s staggering bad loan of over Rs 11,653 crore.
The properties are two adjoining flats on the F1 building, 16th floor of the YOOPUNE housing scheme at Hadapsar, Pune, which are about measuring 398 sq. metres and 396 sq. metres. The PNB has set a reserve price of Rs 8.99 crore and Rs 8.93 crore, respectively, for these two flats.
The DRT-I has also issued notices to owners, directors like Nirav D. Modi, Ami Nirav Modi, Rohin N. Modi, Ananya N. Modi, Apasha N. Modi, Purvi Mayank Mehta, Deepak K. Modi, Neeshal D. Modi and Nehal D. Modi, as they are certified debtors of the PNB owing a massive amount of Rs 7,029-crore.
The e-auction may help the PNB and around 15 other banks recover a small portion…
