Srivastava’s Hussains

wealthymattersGuru Swarup Srivastava, who created a stir in 2004 by signing up maverick artist late M F Husain to create 100 paintings worth Rs 100 crore is putting up for sale 25 pieces the master had managed to complete before the deal went awry.

Just two years after hitting the headlines with the deal, Srivastava plunged into infamy when the Central Bureau of Investigations launched a probe into a Rs 235-crore loan NAFED had extended to him to import iron ore, but a part of which he diverted to make real estate investments. Months later, Delhi police’s Economic Offences Wing booked him for defrauding two chartered accountants and the Enforcement Directorate booked him for money laundering.

Ringed by financial troubles, Srivastava was unable to fund his Rs 100-crore project with Husain. But the artist kept his side of the pact by delivering 25 paintings for the Rs 25 crore advance he had received. Srivastava now hopes to use these paintings to pay off his dues and start life afresh.

Incidentally, in 2006, due to some controversial paintings Husain had done, he was charged with hurting the sentiments of people and faced several lawsuits. Husain then left the country, living in self-imposed exile in Doha and London, where he died in June 2011, aged 95. Read more of this post

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