Modi suit fetches record Rs 4.31 cr at Surat auction

Auction money to be used for clean Ganga project

GN Bureau | February 20, 2015


#narendra modi   #narendra modi suit auction   #clean ganga project   #monogramme suit modi  

It started with a quote of Rs 51 lakh and, finally prime minister Narendra Modi's suit with his name woven into it in gold pinstripes has been lapped for Rs. 4.31 crore.

On the final day of auction in Surat, diamond merchant Hitesh Patel of Dharmanandan Diamonds became the owner the suit that has generated so much scrutiny and controversy. Hitesh’s initial offer was of Rs. 3.61 crore and even this amount was far more than figures quoted by other bidders.

On Thursday, another diamond merchant, Mukesh Patel offered Rs. 1.48 crore for the suit. Gujarat-based industrialist Komalkant Sharma bid for Rs. 1.41 crore.

An interesting bid was made by a school teacher. Rajesh Maheshwari, a nursery school teacher in Surat, offered Rs. 1.25 crore raised by a group of 250 people who contributed Rs. 50,000 each.
 
The suit worn by Modi during US president Barack Obama's visit last month was mocked by opposition parties. The suit was being auctioned along with 450 other gifts Modi received as the prime minister. The bids closed this evening and the money will be used for the clean river Ganga project.

Hitesh Patel told a news agency that “We will keep the suit in our office as a reminder of the noble cause we took part in.”


Who bid for the suit:
 

  • Mukesh Patel, builder from Surat and Sanjay Movliya, diamond trader, together bid at Rs 2.65 crore.
  • Vipul Shah, Mumbai based diamond trader bids for Rs 2.51 crore.
  • Surat’s Mukesh Patel  made a bid of Rs 2.31 crore.
  • Rajesh Jain, owner of an engineering firm in Haryana, made another bid of Rs 2.9 crore.
  • Dharmanandan Diamonds Pvt. Ltd made a bid of Rs 2.8 crore.
  • NRI businessman Chandresh Ojha make a bid at Rs 1.95 crore.
  • Rajesh Jain, owner of an engineering firm in Haryana, made a bid of 1.85 crore.
  • Surat-based businessmen ​Lavji Badshah and Jayanti Aklara ​made a bid for Rs 1.81 crore.
  • Lavji Patel, a diamond merchant from Surat made a bid of Rs 1.71 crore.
  • Surat’s Rajesh Jain bids for  Rs 1.65 crore.

Comments

 

Other News

`Focus on infra, reforms, digital connectivity has created strong foundation for growth`

In a step towards the operationalisation of the Bharat Audyogik Vikas Yojana (BHAVYA), union minister of commerce & industry Piyush Goyal launched the BHAVYA Portal on Monday in New Delhi.   Addressing the gathering, Goyal said that the BHAVYA scheme will adopt a competit

Govt, RBI announce major reforms to attract FPI

The finance ministry on Friday announced a series of measures aimed at enhancing the ease of investment for individual Persons Resident Outside India (PROIs) and Foreign Portfolio Investors (FPIs), and to attract stable long-term foreign capital flows.   Building on the recent in

Lessons in climate adaption from world’s largest inhabited river island

Majuli Island, perched between the Brahmaputra River to the south and east, the Subansiri River to the west, and a branch of the Brahmaputra to the north, has been severely affected by recurrent flooding and intense riverbank erosion. Despite its global importance in acquiring UNESCO tentative status for

Careless whispers and the impossible trinity

Time can never mend, the careless whispers of …    As the RBI marches ahead, for the upcoming monetary policy meeting this June, whispers from the corridors echo around several policy options to defend the rupee – by deploying forex reserves, raising in

Bullet Train Project: Third mountain tunnel breakthrough achieved

A major engineering milestone has been achieved in the Mumbai–Ahmedabad Bullet Train Project with the successful breakthrough of the third mountain tunnel (MT-07) at Ambesari village in Dahanu Taluka of Palghar district, Maharashtra.   With this achievement, three mountain

Supreme Court gets five new judges

Five new judges were appointed to the Supreme Court of India on Monday. "Vide Notifications of even number dated 01.06.2026, in exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the Hon’ble President of India is pleased to appoint (i) Shri





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter