Antique jewelry worth Rs. 15 Crore along with the artworks of MF Hussain, KK Hebbar, and Amrita Shergil were found by the Government agencies during a search in the triplex flat of Nirav Modi in Samudra Mahal Building in Worli. The paintings were all showcased in a special hall by Nirav Modi. Expensive watches worth Rs. 1.4 Crore were also recovered from the flat. The CBI along with the Enforcement Directorate and the art and jewelry experts opened the flat of Nirav Modi to examine the valuables that were kept there. All the valuables kept inside the flat were then examined for three days to be sure of their genuineness with their price verified by the experts.
The ED had attached the flat on 24th February but also decided to examine the valuables on Thursday. The officials stated that the art was worth Rs. 10 Crore collectively. The paintings were also verified by renowned art experts stated the officials. A money laundering case of Rs. 12,600 Crore is also being investigated against Nirav Modi and Mehul Choksi by the ED.
All the money present with them is believed to have been received by them by defrauding the Punjab National Bank. The ED also attached some movable as well as immovable properties in the last few months worth Rs. 7,638 Crore of Nirav Modi and Choksi in the case. The ED searched 251 premises across India in connection with Nirav Modi and Mehul Choksi and their companies during the probe.