MUMBAI (REUTERS) - Indian tax authorities are hoping for a windfall with the auction on Tuesday (March 26) of rare oil paintings that were once part of fugitive billionaire jeweler Nirav Modi's collection and have been seized by the government.. Read more at straitstimes.com.
MUMBAI - Indian tax authorities are hoping for a windfall with the auction on Tuesday of rare oil paintings that were once part of fugitive billionaire jeweler Nirav Modi's collection and have been seized by the government.
After a court order allowing the auction to take place, tax authorities, who are pursuing Modi over the country's largest bank fraud, appointed professional auction house Saffronart. "Until a few years ago, the tax authorities really didn't know the value of art," said Farah Siddiqui, an art adviser who is advising clients eyeing Modi's collection.
The auction comes just weeks before a national election and as Indian Prime Minister Narendra Modi faces pressure to bring back Nirav Modi , who fled the country last year and has been residing in the United Kingdom.
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