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The Debt Recovery Tribunal-I in Mumbai has put up a solar power plant belonging to a group entity of Nirav Modi, the absconder diamantaire, for auction in an attempt to recover a portion of his dues. The solar power plant, valued at Rs 12.40 crore, is located in Maharashtra's Ahmednagar district. Additionally, Nirav Modi's flat in Mumbai and two large land parcels will also be auctioned off.
Besides, the DRT-I plans to auction off two large land parcels belonging to Modi and his group company, Firestone Trading Pvt. Ltd. Both the land parcels are currently mortgaged with the Union Bank of India.
The Debt Recovery Tribunal-I has initiated an auction of a solar power plant owned by a group entity connected to fugitive diamantaire Nirav D. Modi
The Debt Recovery Tribunal-I here has put up a solar power plant belonging to a group entity of the absconder diamantaire Nirav D. Modi to try and recover a tiny portion of the whopping dues of over Rs 2,348-crore.