Court Upholds Enforcement's Sale of Seized Luxury Cars Under Money Laundering Law, Dismisses Challenge.

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....The Court held that the procedure followed by the Directorate of Enforcement in seizing and selling the luxury vehicles was in accordance with the provisions of the Prevention of Money Laundering Act (PMLA) and the Rules of 2013. The vehicles were prima facie found to have been purchased from the proceeds of crime generated through criminal activities. The Court recognized that vehicles are subject to natural decay and depreciation, making them economically unviable over time. By converting the sale proceeds into fixed deposits, the Rules ensure preservation and potential increase in value, protecting the rights of both the accused and the investigating agency. The petitioner did not request the retention of vehicles in exchange for fixed d.........