Court allows ED to auction fugitive Nirav Modi's Mercedes
Mumbai's court has permitted the ED to auction two vehicles belonging to fugitive businessman Nirav Modi. The sale proceeds of the Mercedes-Benz GLE250 and Skoda Superb Elegance, which will be re-auctioned, will be deposited in a fixed deposit with a nationalised bank. Court noted that the assets were depreciating as the trial against Modi showed no immediate prospect of commencing.