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They say diamonds are forever and for many years that seemed to be the case for diamond merchant (Firestar Diamond) and jewellery designer Nirav Modi. However, in early January, Modi and his family slipped out of the country just a few weeks before the Punjab National bank filed a case with the CBI against him. The bank claims that Modi and his confederates defrauded it of Rs 11,600 crore ($1.77 billion) using fraudulent letters of undertaking.
The CBI filed a case against Modi and his cohorts on February 5 and in connection with a FIR by the investigative agency, the Enforcement Directorate(ED) has been conducting raids at Modi's properties and have seized the businessman's car collection which is said to be worth around Rs 10 crore. So let's take a look at the Nirav Modi's seized car collection.
Price: Rs 5.25 - 5.65 crore
The Rolls-Royce Ghost is the what the English luxury carmaker calls a more realistic and smaller car compared to its flagship, the Phantom. The Ghost is based on the modified platform of a BMW 7 Series and uses the same 6.6-litre twin-turbo V12 engine as the newly-launched Phantom.
However, in the Ghost, the engine cranks out 562bhp and 820Nm of torque (upgraded in 2016 from 780Nm) all of which is sent to the rear wheels via an eight-speed automatic gearbox which pre-selected gears with the help of satellites that monitored the road ahead.
The Rolls-Royce Ghost sprints from 0 - 100kph in 4.8 seconds and has a top speed of 250kph which would have Modi zip around in complete luxury with ease.
Price: - Rs 1.93 - 2.09 crore
The Porsche Panamera is the only sedan produced by the German brand best known for its sports cars. Nirav Modi owned the diesel variant of the first-gen Panamera which was powered by a 3.0-litre V6 diesel engine (the engine was one of those used by the VW group to cheat as part of the dieselgate scandal). The Panamera diesel produced 247bhp and 550Nm of torque which was sent to the rear wheels via an eight-speed gearbox.
The Porsche Panamera Diesel sprints from 0 - 100kph in 6.6 seconds and has top speed of 250kph. Like the Ghost, the Panamera Turbo would have allowed Modi to travel around in luxury with a few of his pals as well.
Mercedes GLS 350 CDI
Current Price: Rs 82.8 lakh
The Mercedes GLS is the known as the S-Class of SUVs due to its luxurious nature and it is the largest and most expensive SUV on offer from Mercedes in India. The Mercedes GLS is powered by a 3.0-litre turbo V6 diesel engine that produces 225bhp and 650Nm of torque which is sent to all four wheels via a nine-speed automatic gearbox.
Able to take a family of five in complete luxury both on and off-road, the GLS 350 CDI made quite a good impression on the fraudster businessman Modi as the ED apparently seized two of these according to a tweet from the ANI.
Current Price: 76.5 lakh
In 2005, Mercedes introduced the CLS-Class, a new four-door coupe/sedan crossover that slotted in between the E & S-Class luxury sedans. The CLS became an instant hit and Mr. Modi joined the bandwagon and bought one.
The Mercedes CLS was offered with a petrol V6 and a smaller 2.0-litre diesel, which was the more popular model in India. With unique styling on the outside and immaculate luxury inside, the CLS drew eyeballs wherever it went.
Current Price - Rs 26.2 - 31.99 lakh
The Toyota Fortuner may have a pointy new design now but the previous generation with its butch looks has been the king of the SUVs if you run around in circles of power. The Fortuner is available with both petrol and diesel options and gets four-wheel drive as well.
Current Price - Rs 14.06 - 21.26 lakh
The second Toyota seized from Mr. Modi's collection is the Innova, the MPV from that has become a well known figure on Indian roads. However, while the current Innova Crysta's looks may just be a bit too pointy and aggressive for some its predecessor, which wasn't as expensive as the current one, appealed to almost every Indian buyer in the market for a big family car.
Price - Rs 24.39 - 26.69 lakh
The Honda CR V seems to be the only car other than the Mercedes GLS that seems to be a current-gen car on sale in India. The CR-V looks sharp and comes in both petrol and diesel guises. A new 7-seater Honda CR-V was showcased at Auto Expo 2018 and is expected to arrive in India later this year. ANI also claimed that two more Honda were seized but there are no details about the two vehicles.
DriveSpark's Thoughts On Nirav Modi's Seized Car Collection
Nirav Modi is currently on the run for allegedly defrauding the Punjab National bank in what is now thought to be the biggest bank fraud ever perpetrated in India. His car collection though shows his rather meteoric rise and with him on the run now, we expect his car collection to never see the light of day again unless the government decides to sell them off to reclaim some of his money,