Thursday, January 12, 2012: As many as nine luxurious cars, which were seized from R. Sabarinath, the prime accused in the sensational Total 4 U financial fraud case, were auctioned here on Wednesday for a hefty price of almost 50 lakh, sources said.The vehicles being put up for auction included a BMW car registered in Sabarinath’s name that was auctioned for a price of 19,10,000 bought Ajmal Abdul Kareem, native of Pachalloor. The Skoda superb car was auctioned for a price of 7, 93, 000 bought by D Mohanan, native of Vazhamuttam.
A Toyota Lexus car was auctioned for a price of 4, 11, 000 bought by KC Mohanan, native of Vilappilsala. Official sources said Court Receiver A.P. Ajayan had given direction to those who had entered into land sale agreements with Sabarinath to refund the money they took as advance from him.
The proceeds from the auction and the money given as advance by Sabarinath would be remitted at the Sub Court here.
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