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Bombay High Court approves June 12 auction of 25 rare M F Husain canvases

Reclaimed by NAFED after a Rs236 crore loan default, the OPCE series works must be sold by June 12 with proceeds reported to the court by July 3.

MF Husain's artwork titled Portrait of a Painter, Surrounded by His Own Images.
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Overview

  • The February order permits the Sheriff of Mumbai to auction the ’Our Planet Called Earth’ series at Hamilton House in Mumbai.
  • The 25 canvases will be shown for preview from June 8 to 11, marking their first public display in India since 2004.
  • Husain created the OPCE series in 2003–04 and originally sold these works to industrialist Swarup Srivastava under a larger Rs100 crore agreement.
  • NAFED seized the paintings following a CBI probe into the Swarup Group’s alleged diversion of Rs150 crore from a Rs236 crore loan.
  • Art specialist Dadiba Pundole valued the collection at Rs25 crore in May 2024 and the Sheriff must file a report on the auction proceeds by July 3.