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Anand Mahindra Shows Interest In Nirav Modi's Rhythm House

Anand Mahindra's offer drew considerably good response from the people from all walks of life. Milind Deora, former union minister said, "Good Idea Anand. Lets connect on this offline."

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Anand Mahindra Shows Interest In Nirav Modi's Rhythm House

Rhythm House is one of the landmarks of crescent-shaped art district in Mumbai.


As media reported that Mumbai's Rhythm House is one of the Nirav Modi properties that have been seized by the Enforcement Directorate (ED), Anand Mahindra, chairman of Mahindra Group, lapped up the news, and promptly expressed interest in not only acquiring the property, but also in making a concerted attempt in bringing it back to its old glory.

Rhythm House, a brick and mortar music store was shut in 2016 because of declining sales as increasingly, its loyal customers shifted to online shopping. It is one of the landmarks of crescent shaped art district in downtown Mumbai.

"If the ED is going to eventually auction Rhythm House, how about a bunch of us in Mumbai collectively acquiring it, restoring it & turning it into a performance venue for Rising musicians & a hangout for music lovers? Happy to be part of such a band," said Anand Mahindra in a tweet. 


Mahindra's offer drew considerably good response from the people from all walks of life.. Milind Deora, former union minister said, "Good Idea Anand. Letsconnect on this offline."

 

Another entrepreneur Santosh Panda, CEO of Explara, said, "Good idea, Happy to deploy Explara for event ticketing and management for free."

Vishal Dadlani, also gave thumbs up to the idea and remarked on twitter, "I'll happily chip in, curate, organise management, and do whatever else is needed. It could be a centre for a whole new generation of music and musicians."

Besides properties, the Enforcement Directorate (ED) has also seized over 10,000 imported watches from several locations connected to Nirav Modi.

The imported watches were seized from the 60 plastic containers from several locations connected to Nirav Modi during the searches carried out in the last few days in connection with an ongoing probe in the Rs.11,300 crore Punjab National Bank fraud case.

"As he used to deal in designer jewellery, the watches too have been imported for the designer watch collection," said an ED official privy to the investigation.

The ED also seized 176 steel almirahs and 158 boxes linked to Modi over the last week.

Beside the imported watches and other items, the financial probe agency has also frozen diamond trader's bank account and shares worth Rs. 43 crore.

The bank account which was seized by the ED had a balance of Rs. 30 crore, while the shares were valued at Rs. 13.86 crore.

On Thursday, the agency seized bank deposits, shares and luxury cars worth over Rs. 100 crore belonging to the businessman and his group.

The agency has frozen Mutual funds and shares worth Rs. 7.80 crore of Nirav Modi.

 



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