
Sotheby's postpones auction of jewels linked to Buddha after backlash in India
The gems were found buried together in reliquaries with the corporeal relics of the historical Buddha and discovered in northern India in 1898, the auction house said. They dated back to around 240-200 BC, it added.
Advertisement
But India's ministry of culture said in a Facebook post on Tuesday that it had issued a legal notice to Sotheby's Hong Kong to demand the immediate halt of the sale, accusing the auction of violating 'Indian laws, international norms and UN conventions'.
The gems were excavated by British man William Peppe (Sotheby's via AP)
In its letter to Sotheby's Hong Kong dated Monday, posted on Facebook, it said the auction involved sacred Buddhist relics that constituted the inalienable religious and cultural heritage of India and the global Buddhist community. It demanded the repatriation of the relics to the Indian government and a public apology from the auction house and Chris Peppe.
Mr Peppe is a great-grandson of British man William Peppe, who excavated the relics.
The Indian government warned in the letter that failure to comply would result in legal actions and public advocacy campaigns highlighting the auction house's role 'in perpetuating colonial injustice and becoming a party to unethical sale of religious relics'.
Advertisement
India's ministry of culture demanded the repatriation of the relics to the Indian government (Sotheby's via AP)
Sotheby's announced the postponement in a statement on Wednesday, acknowledging the matters raised by the Indian government and saying it was done with the agreement of the consignors.
'This will allow for discussions between the parties, and we look forward to sharing any updates as appropriate,' it said.
Some of Sotheby's webpages about the auction were no longer available on Wednesday.
The Indian ministry of culture said on Facebook on Wednesday that it was 'pleased to inform' that the auction had been postponed after its intervention.
Advertisement
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
2 hours ago
- Reuters
India's Apollo Hospitals to double AI investments, beats profit estimate
HYDERABAD, Aug 12 (Reuters) - India's Apollo Hospitals Enterprise ( opens new tab plans to double its investment in artificial intelligence capabilities over the next two to three years, its CEO said, after the company beat first-quarter profit estimates on higher patient volume. The hospital chain already uses AI tools in diagnosis to read X-rays, scan reports and also in endoscopy - a medical procedure to examine the inside of the body using a camera, CEO Madhu Sasidhar told Reuters on Tuesday. Many large private hospital chains in India, like their western counterparts, are investing in AI capabilities to improve patient diagnosis and decisions related to medical procedures, among others uses. Apollo recently developed technology to read existing scan reports and predict the risk of liver fibrosis in the future, Sasidhar said. "We are also bringing some other new generation agentic AI-type tools," he said. He did not quantify the size of Apollo's existing investment in AI. Apollo, headquartered in the south Indian city of Chennai, partnered with Microsoft (MSFT.O), opens new tab earlier this year to develop AI-based tools to be used in healthcare. Some of them are in early stages of testing, Sasidhar said. Indian hospital chains such as Apollo and Manipal have also been increasing their bed count for a larger share of the market, including through acquisitions of smaller hospital operators. Apollo said it is on track to add 4,370 beds over the next 3-4 years through acquisition, new hospitals and expansion of existing facilities. Its overall bed capacity is currently more than 10,000. The company's consolidated net profit rose 41.8% to 4.33 billion rupees ($49.40 million) for April-June, beating estimates of 3.86 billion rupees, according to data compiled by LSEG. While its overall occupancy rate dipped from last year, in-patient volume grew 3% and average revenue per in-patient increased by 9%, according to Apollo. Quarterly total revenue rose 15% to 58.42 billion rupees, beating estimates of 57.44 billion rupees. The company said it expects double-digit revenue growth for the current financial year. ($1 = 87.6520 Indian rupees)


Reuters
2 hours ago
- Reuters
Paytm's unit gets Indian central bank nod to operate as online payment aggregator
BENGALURU, Aug 12 (Reuters) - Indian fintech firm Paytm's ( opens new tab Payment Services unit has got 'in-principle' approval from the country's central bank to operate as an online payment aggregator, it said on Tuesday. In August 2024, the company had said it would submit an application with the Reserve Bank of India to seek a payment aggregator license. That move came seven months after the central bank ordered it to wind down its payments bank. Payment services accounted for more than half of the fintech firm's consolidated revenue in the quarter ended June 30. Last week, China's Ant Group( opens new tab exited the firm by selling its remaining 5.84% stake in block deals.


Reuters
2 hours ago
- Reuters
Magic Moments maker ties up with Bollywood star Shah Rukh Khan to launch premium tequila
Aug 12 (Reuters) - Radico Khaitan ( opens new tab, the maker of "Magic Moments" vodka, will invest up to $4.56 million and team up with Bollywood actor Shah Rukh Khan and Zerodha co-founder Nikhil Kamath to launch a premium tequila brand, marking its foray into the category. The Indian liquor maker, known for premium offerings such as Rampur Indian Single Malt and Jaisalmer Indian Craft Gin, will roll out the brand D'YAVOL Añejo — a premium spirit made from agave and aged about two years in wine casks. D'YAVOL, a luxury brand founded in 2022 by Shah Rukh Khan's son Aryan Khan, along with Leti Blagoeva and Bunty Singh, is headquartered in Amsterdam and offers vodka, blended malt Scotch whisky and premium streetwear. D'YAVOL Añejo is set to launch by December and depending on state excise duty, will be priced between 20,000 rupees ($228.21) and 30,000 rupees, Radico Khaitan Managing Director Abhishek Khaitan told Reuters on Tuesday. The launch comes as affluent Indians increasingly splurge on everything from luxury dining to premium alcohol, housing and cars. Alcohol sales in the country, according to data from analytics firm Crisil, are projected, opens new tab to grow as much as 10% to $61.35 billion in fiscal 2026. Tequila is one of the fastest growing segments globally and India is catching on very fast. The market size in the country is about 300,000 cases, out of which 15% is the Añejo (Spanish word meaning 'aged') category, Khaitan said. "We believe that in the next five years, tequila can reach a volume of about a million cases in India plus global market, so I think it was a great opportunity," he said. Under the partnership, Radico Khaitan and Shah Rukh Khan's family will each hold a 47.5% stake in the venture, while Kamath will own 5%. The deal also underscores the fierce competition in mass and premium liquor segments. Just three weeks ago, peer Tilaknagar Industries ( opens new tab bought the "Imperial Blue" whisky brand from Pernod Ricard ( opens new tab for $486 million. ($1 = 87.6370 Indian rupees)