Archive · 30 Jun 2025
Liquidator Aims for ₹500 Crore Recovery from Nirav Modi Auction
Imagine a very rich person named Nirav Modi who is accused of doing something wrong with money.
The government is trying to get the money back.
A special person, called a liquidator, is selling off things Modi owned, like jewelry and real estate.
They hope to get about ₹500 crore, which is a lot of money!
They've already gotten some money back and are planning another sale soon, including rings.
The money they get will be used to pay back people and companies that lost money because of Modi.
This is a way for the government to try to fix things after something bad happened.
Liquidator aims to recover ₹500 crore from Nirav Modi's assets.
The recovery is related to a $1.5 billion fraud case from 2018.
Approximately ₹280 crore has already been recovered by the liquidator.
A new auction is planned for August 2, featuring items like finger rings.
Funds from the auction will pay down claims against Modi's companies.
- Who
- A court-appointed liquidator and Nirav Modi.
- What
- Recovery of funds from Nirav Modi's assets through auctions.
- When
- The auction is scheduled for August 2, 2025.
- Where
- India.
- Why
- To recover funds related to a $1.5 billion fraud case and pay down claims against Modi's companies.
- Recovery Target
- ₹500 crore
- Case
- $1.5 billion fraud
- Previous Recovery
- ₹280 crore
- Auction Date
- August 2, 2025
- Liquidator
- Santanu T Ray