Oil on canvas painting 'Gesture' by Tyeb Mehta was sold for Rs 31 million in the auction of Indian contemporary art at the Osian's Auction of Masterpieces and Museum Quality series held in Mumbai recently.
The painting was purchased by Ranjit Malkani, chairman of Kuomi Travel, an Osian's release said.
The price fetched by the painting is the highest ever for an Indian contemporary painting in a public deal on Indian soil breaking the earlier record of Rs 9.2 million for an abstract painting by V S Gaitonde, registered with Osian's, it said.
Also read: Tyeb Mehta painting fetches $ 1.5 million