Auctioning Alleged Conman's Assets in Bengaluru
In a bid to recover a substantial sum of Rs 308.4 crore owed to government agencies, the income-tax department in Bengaluru is gearing up to auction 12 high-end and luxury vehicles allegedly owned by Sukesh Chandrashekar, an accused conman. The auction, scheduled for November 28, marks a significant effort to reclaim the outstanding amount.
A Diverse Fleet on the Auction Block
The auction, to be conducted online by the Bengaluru branch, features an impressive lineup of vehicles. Among the notable names are Rolls Royce, Bentley, Range Rover, Lamborghini, Jaguar XKR Coupe, BMW M5, Toyota Prado, Innova Crysta, Toyota Fortuner, Nissan Teana, and Porsche. Additionally, a Ducati Diavel motorcycle is also part of the auction inventory.
Details of the Auction Notice
The auction notice, issued by Tarun Kumar Sharma, the tax recovery officer (central) in Bengaluru, outlines the process. The movable properties, seized by the income tax department, will be sold through public auction via e-auction by MSTC Limited. The sale will occur on an "as is where is and what is there is basis," aimed at recovering the outstanding amount of Rs 308.4 crore as of November 10, 2023.
Reserve Prices and Auction Logistics
Each vehicle comes with its reserve price, with the Rolls Royce leading the pack at over Rs 1.7 crore. The combined reserve price for all vehicles stands at a little over Rs 2.7 crore. Following the Rolls Royce, the Bentley has the second-highest reserve rate at Rs eighty-three. three lakh, while the Ducati holds the lowest reserve rate at Rs three.5 lakh. As of the brand new update, the auction is scheduled for noon on November 28.
**Chandrashekar's Allegations and Ongoing Investigations**
Sukesh Chandrashekar, currently in custody in a Delhi jail, faces serious charges of impersonation. His alleged activities include posing as various individuals, including government officials, to extort around Rs 200 crore from multiple individuals, including the spouses of prominent firm promoters. Simultaneously, the directorate of enforcement (ED) is actively investigating money laundering charges associated with his case.
A National Collection of Seized Vehicles
The luxury vehicles, with a collective reserve price of Rs 4.4 crore, were seized from different parts of the country. Now, they are set to go under the hammer in a public auction, showcasing the diverse and high-value assets linked to the ongoing legal proceedings against Sukesh Chandrashekar.
Sale Notice of : Rolls Royce
Sale Notice of : Bentley
Sale Notice of : Lamborghini
Sale Notice of : Jaguar XKR Coupe
Sale Notice of : BMW M5
Sale Notice of : Toyota Prado
Sale Notice of : Innova Crysta
Sale Notice of : Toyota Fortuner
Sale Notice of : Nissan Teana
Sale Notice of : Porsche
Sale Notice of : Ducati Diavel
For More Information on Income Tax Department Auctions
