Porsche, There is no Substitute, the ad says. Apparently neither does Ashish Chordia, a dealer of Porsches and Ferraris in Delhi and the face of luxury retail in India.
He has been arrested on charges of fraud and criminal breach of trust. Chordia runs his Porsche showroom from Ashok Hotel while his Ferrari showroom is situated in Janpath.
His arrest came following the registration of a First Information Report (FIR) at Chanakyapuri Police Station under Section 420 of the Indian Penal Code (IPC) on the complaint of Jasbir Grewal, one of the directors of Fortis Hospital in Gurgaon.
According to police, the incident was reported from New Delhi district’s Chankayapuri area on Saturday evening. A businessman had booked a Porsche through the accused dealer in August 2012. The businessman, identified as Jasbir Grewal, had paid an amount of `1.10 crore for the car to the dealer.
The dealer did not give the money to the financiers Tata Finance due to which the businessman could not procure a No Objection Certificate (NOC) from the financiers for this car which meant he could not insure his car or gain its ownership. Chordia did not hand over the papers of the car to Grewal.
Grewal had taken the car on a part finance basis from Tata Finance. Jasbir Grewal is a resident of Golf links area in Gurgaon and is also one of the directors of Fortis hospital.
“Around six months back a complaint was received and on that basis a case of cheating was registered. The dealer was absconding for a while and was arrested on Saturday from the Ferrari showroom near le Meridien,’ said Deputy Commissioner of Police (New Delhi district) SBS Tyagi. Chordia had been on the run ever since the incident. He came to the Capital from Mumbai for the Formula 1 Grand Prix and was later seen at the Ferrari showroom at Janpath. He was arrested from there. The court had issued a NBW (Non-Bailable Warrant) against the accused.
Ashish Chordia brought expensive high-end wheels such as Porsche, Ducati, Maserati and Ferrari to India. There are over 1,000 Porsches on Indian roads. Chordia is also the Chairman Managing Director and CEO of DUCATI India, which has played a significant role in transforming luxury retail in India. Chordia’s group now retails some of the world’s most renowned brands such as the Porsche, Ducati, Ferrari, Maserati, Van Cleef & Arpels, Dolce & Gabbana, NetJets and many more.
Ashish Chordia entered the luxury goods business by acquiring exclusive rights from renowned Western luxury companies and began to establish the foundation of the luxury conglomerate, which would retail luxury products, including but not limited to cars, yachts, superbikes, fashion and jewellery.