Nirav Modi
Nirav Modi

New Delhi: The ED filed an application before a special court here on Thursday, seeking permission to sell the paintings and other valuables of fugitive jeweller Nirav Modi, a prime accused in the multi-crore PNB scam, seized during raids.

Enforcement Directorate (ED) said, the paintings the agency wants to sell include those seized by the Income Tax department valued at Rs 57.72 crore and the ones recovered by the financial investigation agency from Nirav Modi's house, "Samudra Mahal", in Mumbai.

Besides the paintings, the other seized items belonging to Nirav Modi, currently lodged in a jail in Britain, included high-end watches, bags and luxury cars, the ED said.

The central agency, in its application filed before special judge V C Barde, said it had made a provisional attachment of these items on February 25, adding that it now wanted to sell those.

"The paintings and articles mentioned (in the plea) are perishable and prone to speedy and natural decay. The expenses of maintenance shall exceed their value if they are kept idle for a long period of time," the ED said. The plea is scheduled to come up for hearing on September 5.

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