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Union Bank To Auction Paintings, Watches Belonging To Wadhawans Of DHFL

It is turning out to be the season of precious artefacts owned by controversial people up for sale both at home and abroad. Recently, a watch said to have belonged to Adolf Hitler was sold for $ 1.1 million at the Alexander Historical Auctions in Maryland, much to the consternation of the Jewish community. The timepiece made by German watch firm Huber has a Swastika and initial AH engraved. It was picked up by an anonymous bidder. Also, on the auction table was a dress belonging to Hitler’s wife Eva Braun. Back home, Union Bank of India, is set to auction artefacts owned by scam-tainted Wadhawan brothers of DHFL-fame. During raids at their premises, CBI found rare artworks of S H Raza and FN Souza, luxury watches manufactured by Jacob & Co and Frank Muller Geneve and loads of gold and diamonds. While Raza’s 1956 oil-on canvas painting titled Village is worth over Rs 3.5 cr, FN Souza’s 1964 untitled oil-on-linen piece is valued at Rs 2 cr. The two watches of Jacob & Co and Frank Muller Geneve are worth Rs 5 cr. The gold and diamond jewellery including bangles and necklace were worth Rs 2 cr. Though the Rs 12.5 cr of artefacts recovered is miniscule compared to Rs 34,615 cr losses of DHFL, the consortium of 17 banks say something is better than nothing.