Bollywood actress Sonam Kapoor and her husband Anand Ahuja bought the iconic Nirav Modi’s Rhythm House in Mumbai. The couple paid Rs. 478 million for the shuttered music store, which opened in 1940. The property purchase transaction was completed via the Bhaane group, which is owned by Sonam Kapoor and Anand Ahuja.
After Nirav Modi was named bank loan defaulter, in 2018, the Rhythm House, widespread in 3,600- square feet remains close. Modi is the owner of Firestar Diamond International Pvt that owned the property.
The Indian bankruptcy court appointed resolution professionals to oversee the transaction and confirmed the closed deal cost to a leading news channel over the telephone.
“The stakeholder committee has approved the sale of Rhythm House for 478.4 million rupees,” said Shantanu T Ray, the official liquidator overseeing the sale of Firestar’s assets.
Similarly, Bhaane group, the manufacturer of clothes under its brand confirmed the property transaction. The company is an extended arm of Harish Ahuja’s (Anand Ahuja’s father) company named Shahi Exports Pvt. It is one of the largest apparel makers in India and is also the supplier of clothing to H&M, Uniqlo, and Decathlon.
“We have completed our due diligence and plan to expand our retail presence in the city. As private companies, we are unable to comment on any financial information regarding the bid,” a spokesperson for the Bhaane said.
It is not the first time that Bollywood actors lured to property in other than the residential segment. Earlier this year, Ajay Devgan rented his office for a whopping cost annually. Also, the actor-turned-politician Kangana Ranaut, bought commercial space in Andheri worth Rs. 1.56 crore.
