Nirav Modi's seized jewelry to be auctioned: What to know
Firestar Diamond International, tied to fugitive businessman Nirav Modi, is putting its jewelry up for e-auction on April 27.
Expect everything from natural diamonds to finished pieces, with prices ranging from ₹4 lakh to ₹18 lakh.
The sale follows a UK court's rejection of Modi's petition to reopen his extradition order.
Inventory was earlier attached and has been released for liquidation
The auction features gold, silver, and platinum rings set with natural or synthetic stones (think diamonds and cubic zirconia).
The inventory was earlier attached and has been released for liquidation; the e-auction will be conducted under the supervision of the National Company Law Tribunal (NCLT), Mumbai.
Bidding is "as is, where is," so bidders need to do their own homework using reports from the Gemmological Institute of India.
The inventory is stored in high-security vaults and currency chests at undisclosed bank locations; physical inspections are restricted and access is limited.