India, Nov. 22 -- A court has permitted the Enforcement Directorate (ED) to auction two cars belonging to fugitive diamond trader Nirav Modi, observing that the vehicles have been lying idle for years and are at risk of substantial depreciation.

The order, passed by a special court for cases under the Prevention of Money Laundering Act (PMLA) on Wednesday, was made available on Friday.

The ED had sought permission to auction all three vehicles attached in earlier proceedings: a Skoda Superb Elegance, a Mercedes-Benz 4Matic FL 350 CDI and a Mercedes-Benz GLE 250. Their combined value, as reflected in the attachment orders, exceeds Rs.1 crore.

The court noted that Modi had been declared a fugitive economic offender on December 5, 2019. H...