Enforcement department decides to auction Rs 1,000 crore assets belonging to Neerav Modi, who escaped to London without repaying a bank loan

Mumbai: Assets owned by diamond trader Neerav Modi, who fled to London without repaying loans from Indian banks Auction More conveniently the enforcement department released them. The value of these assets is Rs.1,000 crore Auction The proceeds will be donated to the Punjab National Bank (PNP), which he borrowed from.

These assets Auction The National Institutional Law Board (NCLT) has appointed an individual to release. Enforcement has already released such confiscated assets. Officials said work was underway to release some more property. This includes the solar power plant in Ahmednagar.

Already Neerav Modi Used luxury cars Auction BNP has been given Rs 6 crore from Vittan. This includes expensive paintings and other items.

Neerav Modi took a loan of Rs 6,500 crore from the Punjab National Bank and fled to London without repaying it. The task of bringing him to India has been carried out legally. Meanwhile, the Enforcement Department confiscated his property. Assets worth Rs 2,600 crore have been seized in connection with a foreign exchange fraud case.

Property currently being released by the Enforcement Department includes the Rhythm House building in the Galacota area. The apartment on Napansey Road has also been vacated. The office complex located in the Kurla area is also up for auction.

Some of the properties owned by Neerav Modi are not mortgaged to banks. This includes 4 luxury bungalows. Their value is Rs 100 crore. Enforcement has also seized the Alibag bungalow and the wind farm in Jaisalmer. All of these assets are borrowed from BNP Neerav Modi Has been revealed.

– PTI