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Diamantaire Nirav Modi’s HCL House price slashed, DRT orders re-auction in Feb

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Finding no takers for fugitive diamantaire Nirav D. Modi’s one property, its price has been slashed and the DRT has ordered its re-auction, along with certain other prime assets, in one of the cases pertaining to the Punjab National Bank (PNB) scam.

Last week, the DRT-I Recovery Officer Ajeet Tripathi put up the HCL House in Marol for e-auction — plus three other lots of properties — to recover a portion of the outstanding of a staggering Rs 22,13,16,39,411.

When it went on the block in September 2022, the unsold HCL House, comprising the entire building with the land, carried a reserve price tag of Rs 52 crore, which has now been slashed to Rs 40 crore, as per the DRT-I announcement.

Besides, the DRT-I has put on the auction block other assets of Modi, including Offices No. 2001-2002 on the 20th floor of the posh Peninsula Park B in Lower Parel with a reserve price of Rs 66 crore, plus over Rs 1.72 crore outstanding maintenance dues till December 2021.

Another property of Modi, the 6th floor of the Mafatlal Centre in Nariman Point along with four parking slots will also go under the e-hammer with a reserve price of Rs 62 crore, besides unpaid maintenance charges for five years coming to over Rs 1.17 crore till May 2022.

Modi’s huge residential 4-BHK flat in Grosvenor House at Peddar Road is going up for auction sale with a reserve price of Rs 15.87 crore, further details of which are not available. Modi also has another address in the prestigious Al Shera Towers, Dubai.

The encumbrances or outstandings on HCL House and Grosvenor House are not known and all the properties shall be auctioned off on the basis of ‘as is where is’ and ‘as is what is’.

The e-auction is scheduled for February 10 — a week after the DRT-I ordered the sale of Modi’s two tony flats in the YOOPUNE housing scheme in Pune, valued at a total of Rs 18 crore, on February 3.

In the fresh auction list concerning PNB versus Firestar International Ltd, the names figuring are Modi and his group companies like Bentley Properties Pvt. Ltd., MAK Business Enterprises Pvt. Ltd., ANM Enterprises Pvt. Ltd., NDM Enterprises Pvt. Ltd., Neeshal Trading Pvt. Ltd. — all operating from a common address at Opera House.

The other companies are: Firestone Trading Pvt. Ltd., Paundra Enterprises Pvt. Ltd. and Radashir Jewellery Co. Ltd. — all registered in a single address at the Bharat Diamond Bourse (BDB) in Bandra Kurla Complex.

The February 3 and 10 e-auctions may help the PNB and a consortium of around 15 banks to recover a miniscule portion of massive dues, pending since the past five years after the country’s mega-banking scam was admitted by these banks in February 2018.

After the PNB’s complaint on the scam, estimated at over Rs 14,000 crore, the Central Bureau of Investigation (CBI) registered the first offence in January 2018 — but by then Modi, his wife Ami and other accused had already fled India.

Later, other probe agencies like Enforcement Directorate (ED) and Income Tax Department (ITD) entered the picture targeting the two prime accused — Modi and his maternal uncle Mehul C. Choksi — but both had flown the coop well before the scam erupted to shake the roots of the Indian banking sector.

Later it came to light that Modi was holed up in London and Choksi has cosily settled as a citizen of Antigua & Barbuda Isles, West Indies, and both are awaiting their extradition to India — expectedly soon.

In the past, the ED-ITD had auctioned off certain movable and immovable assets — like properties, expensive paintings, artefacts, high-end vehicles, etc., — to recover small amounts of its dues.

“Proclamation of Sale under Rules 38, 52(2) of the Second Schedule of the Income Tax Act, 1961, read with the Recovery of Debts Due to Bank and Financial Institutions Act, 1993,” said the latest DRT-I order of January 5.

Maharashtra

UP gangster wanted under Gangster Act arrested from Mumbai, major police operation UP police sent accused to UP

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Mumbai: Police has succeeded in arresting a gangster and gang leader from Sitapur, Uttar Pradesh. He is residing here hiding his identity. Mumbai Police received information that he is hiding in Bay Hotel. After which Yellow Gate Police arrested gangster and gang leader Nishant Rajesh Singh (23), wanted in three cases in Sitapur. In the initial investigation, he tried to mislead the police, but later he told that he belongs to UP and later Mumbai Police contacted Uttar Pradesh Police and it came to know that he is wanted in three cases in Sitapur including theft, illegal weapons, Gangster Act, after which UP Police came to Mumbai today and took the accused into custody and took him to Uttar Pradesh. This operation was carried out by DCP Vijay Kant Sagar on the instructions of Mumbai Police Commissioner Devin Bharti.

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Maharashtra

A very rare surgery: Rajawadi Hospital team successfully removes a 5.5 kg, 30 cm tumor from the uterus of a 46-year-old woman

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A 46-year-old woman from Mankhurd, Mumbai, had been suffering from health problems like persistent abdominal swelling, abdominal pain and difficulty in breathing for the past two years. In view of these symptoms, she sought treatment at the Outpatient Department (OPD) of the Gynaecology Department at BMC-run Seth Vadelal Chhatrapati Gandhi and Monji Amidas Vora Municipal General Hospital (Rajawadi Hospital) in Ghatkopar. The hospital team successfully removed a tumour weighing around 5.5 kg and measuring 30 cm from the patient’s uterus. As her symptoms worsened significantly, a comprehensive review of her medical history, physical examination and necessary diagnostic tests were conducted. These tests revealed a uterine tumour measuring around 30 cm. Initial diagnosis suggested that the mass was a ‘giant leiomyoma’ (fibroid). All necessary precautions and planning were taken to deal with possible complications during and after the surgery, and the procedure was performed later. Dr. Swadina B. Mohanty, Dr. Shalini Bagaria, Dr. Arva Kamble, and Dr. Kajal Salvi played a key role in the surgery performed by the Gynecology Department. Dr. Shreyash and Dr. Netra, under the guidance of anesthesiologist Dr. Chhavi, managed the anesthesia team. Additionally, surgical staff nurse Neelakshi Guru and her team provided vital support during the surgery. Due to the large size of the tumor and the extensive network of blood vessels, the surgery was performed with utmost care. The 5.5 kg tumor removed during the procedure has been sent for histopathological examination, and the final report is awaited. Post-surgery, the patient received specialized care and was discharged from the hospital on the fifth day in excellent health. Cases of such large uterine tumors are extremely rare.

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Maharashtra

Immediate financial assistance and rehabilitation for the victims of the Bhiwandi Kohinoor building tragedy and strict action against the culprits. Abu Asim Azmi

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Mumbai: Maharashtra Samajwadi Party leader and MLA Abu Asim Azmi has written a letter to Maharashtra Deputy Chief Minister and Urban Development Minister Eknath Shinde, and Relief and Rehabilitation Minister Mukrandji Jadhav, appealing for justice for the victims of the tragic and serious incident of collapse of the four-storey Kohinoor building in Balaji Nagar area of ​​Bhiwandi city. Through the letter, MLA Abu Asim Azmi has put forward important demands and issues, including raising questions about administrative negligence.

The Bhiwandi Nizampur City Municipal Corporation had earlier declared the building ‘extremely dangerous’ and issued a notice. Despite this, the administration failed to take timely and concrete steps to ensure the safe rehabilitation of the residents. Lives were lost due to administrative delay and negligence. Along with immediate assistance to the deceased and injured, he demanded that the government immediately provide financial assistance to the families of the citizens who lost their lives in the accident and ensure that all the injured are provided with the best medical treatment at government expense. Regarding the structural audit of the most dangerous buildings, Azmi said that a ‘structural audit’ of all the dilapidated and most dangerous buildings in Bhiwandi city should be conducted immediately, and arrangements for the temporary and permanent rehabilitation of their residents should be made without delay. Azmi has also demanded strict action against the guilty officials and has said that strict legal and administrative action should be taken against the officials responsible for this major accident and the negligence associated with it. Abu Asim Azmi has appealed to the government to take suo motu notice of the matter and ensure that justice and relief reach the affected families in Bhiwandi as soon as possible.

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