Mumbai, July 16: The Delhi High Court on Tuesday upheld a decision allowing the Enforcement Directorate (ED) to sell 26 high-end luxury cars allegedly purchased by conman Sukesh Chandrashekar's wife, Leena Paulose, using money obtained through illegal activities. The court emphasised that vehicles lose value over time due to natural decay, affecting their worth and functionality. Consequently, the ED was instructed to place the proceeds from the car sales into an interest-bearing fixed deposit.

Leena Paulose, who was also arrested in an INR 200 crore extortion case, had filed a plea against a trial court's decision to permit the ED to sell the vehicles. However, Justice Swarana Kanta Sharma dismissed her plea, stating that the vehicles could be sold according to the law. The trial court also allowed a representative from the Delhi Police or Economic Offences Wing to participate in the auction process.  Conman Sukesh Chandrashekhar To Gift 100 iPhone 15 Pros to Jacqueline Fernandez’s Fans on Her Birthday.

The high court noted that stationary cars in a warehouse deteriorate over time due to environmental factors like weather conditions, leading to rust and corrosion. The court also highlighted the costs associated with upkeep and maintenance, especially for high-end luxury cars such as Rolls Royce, Ferrari, and Range Rover.

The Prevention of Money Laundering Act (PMLA) permits the sale of seized vehicles, with the proceeds placed in a fixed deposit to address depreciation and usage issues. This approach benefits both the accused and the investigating agency by preventing resource wastage. Delhi Excise Policy Case: Sukesh Chandrashekhar Writes to Home Minister Amit Shah Over ‘WhatsApp Conversations’ With AAP Leaders Including Arvind Kejriwal.

Paulose's lawyer argued that she had been suffering from depression and memory loss due to over 16 months of isolation in jail, claiming she could only recall the registration numbers of two cars. She asserted that these cars were bought in 2018, before the alleged crime, and that she is being targeted because she is Chandrashekhar's wife. Paulose also claimed to have an independent business of buying and selling cars, with most having legally valid loan agreements.

The ED questioned Paulose's memory, noting that while she could recall valid loan agreements, she could only remember the registration numbers of two cars. The court stated that a reasonable person who can purchase 26 luxury cars would have all the necessary documents and details of their income and expenditure. The court added that Paulose could not use her incarceration as an excuse for memory loss without medical evidence to support her claim.

Sukesh Chandrashekar is accused of defrauding the spouses of former Ranbaxy promoters Shivinder and Malvinder Singh of IINR 200 crore. Both Chandrashekar and Paulose were arrested by the Delhi Police under the Maharashtra Control of Organised Crime Act (MCOCA) and are implicated by the ED in a money laundering case.

(The above story first appeared on LatestLY on Jul 16, 2024 11:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).