The auction is being carried out on behalf of the Enforcement Directorate
Thirteen luxury cars owned by fugitive diamantaires Nirav Modi and his uncle Mehul Choksi went on online auction by the Metals And Scrap Trading Corporation, on Thursday.
The auction is being carried out on behalf of the Enforcement Directorate which had seized these vehicles from Nirav Modi and Mehul Choksi last year.
The vehicles include a silver Rolls Royce with a reserve price of Rs 1,33,00,000, a Porsche worth Rs 54,60,000, a red Mercedes Benz Rs 14,00,000, a white Mercedes Benz Rs 37,80,000 and a BMW Rs 9,80,000.
Besides, there are two Honda Brios, Toyota Innova, Honda CRV, Toyota Fortuner, Skoda Superb Elegance, Toyota Corolla Altis and Toyota Innova Crysta.
Of these 13 vehicles, the BMW and Toyota Innova Crysta belong to Mehul Choksi and the rest belong to Nirav Modi, his family and his group companies.
Prior to the auction, the prospective bidders were permitted physical inspection of the vehicles at various locations earlier this week.
A MSTC official said that by 4 pm the highest bidders shall be known and communicated to the ED which will take the final decision on awarding the successful bids.
The Enforcement Directorate auction follows an order of the Special PMLA court permitting the sale of these cars.