Delhi HC allows sale of conman Sukesh Chandrasekar's 26 cars, says vehicles subject to decay
Delhi High Court recently allowed the sale of 26 luxury cars of Sukesh Chandrasekar observing that the cars are subject to natural decay and depreciation.
These cars were attached and in possession of the Directorate of Enforcement (ED) in a money laundering case linked to the Rs 200 crores extortion case.
Justice Swarana Kanta Sharma in a recent judgement dismissed the petition moved by Leena Maria Paulose, wife of Sukesh challenging the order permitting the sale of the cars.
The High Court has directed the ED to keep the entire amount generated from the sale of the cars in question in an 'interest bearing' fixed deposit.
«Vehicles are inherently subject to natural decay and depreciation over a period of time, which significantly impacts their value and functionality. With the passage of time, vehicles undergo wear and tear,» Justice Swarna Kanta Sharma said.
«Further, storing a vehicle in a container warehouse, as in the present case, for a long period of time results in decay since if a car is left stationary for years, several issues can compromise its condition. Environmental factors such as weather conditions also contribute to this decay, causing issues such as rust and corrosion,» the High Court said in a judgement passed on July 12.
«Rust, in particular, can severely damage a vehicle's structure and all other components,» Justice Sharma said.
The bench said that the mechanical components of a vehicle also suffer from decay, requiring frequent and expensive maintenance to keep the vehicle operational,
