PNB fraud: Nirav Modi's art collection seized

150 paintings recovered from warehouse; artwork by Souza, Gaitonde, Raza confiscated

The Income-Tax department on Saturday seized over 150 paintings by renowned artists from Nirav Modi’s warehouse located at Wadala. 
 

These masterpieces were shifted from Modi’s offices and residences to the warehouse, with an intention to hide them, sources in agencies said. 
 

Confirming the development, a senior tax official said valuation process of the expensive paintings was going on. The paintings include works of Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee. Modi also had some sculptures from Italy and the US, said a source. Modi collected Chinese artwork and owns masterpieces by Xu