The Delhi High Court has allowed the sale of 26 luxury cars owned by conman Sukesh Chandrashekhar. This decision comes as part of the ongoing legal proceedings against him. Sukesh Chandrashekhar, who has been involved in various high-profile fraud cases, accumulated a significant collection of luxury vehicles, which are now being liquidated to recover assets. The sale of these cars is expected to aid in compensating the victims and addressing the financial aspects of the cases against him.The high court ordered the ED to retain the whole proceeds from the sale of these cars in a interest bearing fixed deposit, reasoning that autos are naturally prone to natural deterioration and depreciation over time, which affects their worth and operation.Leena Paulose, the wife of Chandrashekhar, was detained in a ₹ 200 crore extortion case. She filed a plea challenging a trial court judgment that gave the ED control of 26 cars to be disposed of legally. Justice Swarana Kanta Sharma dismissed the motion.While announcing the verdict, the court said that storing a vehicle in the warehouse results in decay and depreciation of the car. The court stated that the automobile industry is aware of the phenomena of vehicle depreciation and that the relevant laws of the Prevention of Money Laundering Act (PMLA) permit the sale of seized automobiles with the revenues being deposited into a fixed deposit, which resolves the issues.Cars Owned By Sukesh ChandrashekharThe luxury cars owned by conman Sukesh Chandrashekhar that are set to be auctioned include a BMW M5, Toyota Prado, Range Rover, Lamborghini, Jaguar XKR Coupe, Rolls Royce, Bentley, Innova Crysta, Toyota Fortuner, Nissan Teana, and Porsche. Additionally, his sports cruiser bike, a Ducati Diavel, will also be auctioned. These vehicles were seized from various parts of India and are expected to help recover the financial dues he owes to various institutions.
