Twenty -five rare MF Hussain Pictures to be auctioned after Bombay HC Node

Artist MF Hussain’s collection image. , Photo Credit: K. Gajendran

25 rare paintings of the heavenly Indian modernist painter MF Hussain safe by NAFED will be auctioned from the Bombay High Court on 12 June for a node from the Bombay High Court as part of the income of an alleged debt default case.

The auction titled ‘MF Hussain: N Artists Vision of the XX Century’ includes 25 canvas depicted as part of our Planet (OPCE) series as part of the Earth (OPCE) series.

In the order of 17 February, a single bench of Justice Ri Chagla allowed Mumbai to auction 25 paintings, which was secured by the National Agriculture Cooperative Marketing Federation of India Limited (NAFED) in connection with the ₹ 236 crore loan dispute with the Swaroop Group of Industry Guru Swaroop Sirivastwa.

Mr. Srivastava came into the limelight in 2007 when he commissioned 100 pictures of Mr. Hussain in each for ₹ 1 crore.

In May last year, art expert Dadiba Pandol presented the evaluation report of paintings in the High Court, according to which he was ₹ 25 crores.

According to the High Court order, in February, Sheriff of Mumbai issued an auction notice for paintings through the Pandol Art Gallery.

The auction is scheduled on 12 June at Hamilton House in South Mumbai.

After the auction is completed, Mumbai’s Sheriff is directed to file a report in the High Court by July 3 and receive the final instructions for the handover of the works.

In 2006, the CBI launched an inquiry into the Swarup group and Crore from NAFED against Shri Srivastava for alleged misuse of 150 crores from a loan of 236 crore from NAFED.

In December 2008, a tribunal allowed Nafed to have a safe assets worth 100 crores, including Hussain Painting.