Nirav Modi

All the 72 items that were up for grabs for the online auction were sold and as many as 70 lots (items) were sold above higher estimate.

The 49-year-old, who has been lodged at Wandsworth Prison in south-west London since his arrest in March last year and is scheduled for an extradition trial in May, made his fifth attempt at getting bail on the basis of a change in circumstances.

ED is in the process of auctioning four properties of the businessman, including three commercial and one residential, the civic body has also written a letter to the agency asking to pay property tax dues as early as possible.

These paintings and other items were seized by ED from Nirav Modi's houses after the agency registered a money laundering case against him and his uncle, Mehul Choksi, for allegedly defrauding PNB of Rs 13,600 crore

Modi's extradition trial is scheduled for five days starting May 11, with the case management hearings in the matter set to begin once all the evidence has been handed in to the court for the trial.

The sale of 112 assets is being done by Saffronart on behalf of the Enforcement Directorate through a live auction, which will be followed by an online one for 72 items.

The lenders have been seeking "clear land papers" from mills' owners for extending loans, they said.

The 48-year-old, who has been lodged at Wandsworth Prison in south-west London, appeared via videolink from prison before District Judge David Robinson.

The 48-year-old, who has been lodged at Wandsworth Prison in south-west London, will appear via videolink from prison. His extradition trial is scheduled for five days starting May 11, with the case management hearings in the case set to begin soon.

The Mumbai-based auction house has been selected to host the sales on behalf of the Enforcement Directorate, Government of India. While the first sale, a live auction, will be held on February 27 in Mumbai, the second will be an online sale on March 3-4.

The CBI on January 8 filed an application before the special court seeking for the supplementary extradition request to be allowed to be sent to London in keeping with the fresh evidence submitted against Modi in the agency's supplementary charge sheet.

Modi has been behind bars at Wandsworth, one of England's most overcrowded prisons, since his arrest on March 19 on an extradition warrant executed by the Scotland Yard on charges brought by the Indian government.

Bhansali, Mistri and Nehal Modi are out of country and summons should be issued against them, the CBI said while submitting the charge sheet in the court of Judge V C Barde.

Special CBI judge V C Barde refused to give relief to Choksi after hearing arguments by his lawyers and the Central Bureau of Investigation's counsel A Limosine.

These assets include Nirav Modi’s apartment in one of Mumbai’s prominent housing society, Samudra Mahal, and 6-7 other real estate properties in South Mumbai.

Nirav Modi is the second businessman after Vijay Mallya to be declared a fugitive economic offender under provisions of the new Fugitive Economic Offenders Act.

Special CBI court judge V C Barde issued the proclamation order against Nirav Modi, his brother Neeshal Modi and a close associate Subhash Parab, directing them to remain present before it by mid January.

The 48-year-old had moved yet another bail application last month with an “unprecedented” house arrest guarantee, akin to those imposed on terrorist suspects, as well as citing mental health issues from being behind bars at Wandsworth Prison in south-west London since his arrest in March.

Judge Emma Arbuthnot rejected his bail application despite Modi's offer to double security from 2 million pounds to 4 million pounds.

Dressed in a blue sweater and freshly shaved, the 48-year-old was produced before Westminster Magistrates' Court in London to make another attempt at being let out on bail until his trial in May next year.