Nirav Modi’s Two Flats In Pune’s Hadapsar Area To Be Auctioned Off

Nirav Modi
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Pune, 15th February 2023: It has been revealed that diamond trader Nirav Modi, who reportedly defrauded Punjab National Bank (PNB) of almost Rs 11,500 crores, owns two homes in Panchshil Yoo Pune in Hadapsar.

These apartments cost around Rs 18 crores of rupees. The Debt Recovery Tribunal (DRT-I) has therefore begun the process of auctioning off these apartments to recover a portion of the debt. However, there was no response at the auction that was held on 3rd February. As a result, the units will be auctioned off once more.

According to information obtained, Nirav Modi’s two Panchshil Yoo Pune flats in Hadapsar are about 4,285 and 4,252 square feet in size, respectively. They have price tags of Rs 8.10 crores and Rs 8.4 crores, respectively. However, since there was no interest in purchasing the apartment at the DRT-determined rates, the auction will need to be held again on 20th March with a lower starting bid.


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