Close X
Wednesday, November 20, 2024
ADVT 
India

Vijay Mallya's Personal Jet On Auction, Only Bidder Offers Rs. 1 Crore

IANS, 01 Jul, 2016 12:23 PM
    Liquor baron Vijay Mallya's personal jet went up for auction for a second time today, in an attempt to recover over Rs. 9,000 crore that Mr Mallya owes banks in loan defaults for his now defunct Kingfisher Airlines.
     
    The reserve price was set at Rs. 152 crore and an earnest deposit of Rs. 1 crore was mandated to take part in the auction.
     
    But to the authorities' surprise, the private jet of Mr Mallya, who is known for his lavish lifestyle, could only attract one potential buyer, and a single bid of Rs. 1.09 crore.
     
    "The company has offered a paltry Rs. 1.09 crore against our reserve price of Rs. 152 crore. Since the bid was much less than our reserve price, we rejected the offer," a Service Tax Department official told Press Trust of India.
     
     
    The plane was attached by the Service Tax Department in December 2013, claiming tax dues of over Rs. 800 crore from the Mallya's Kingfisher Airlines.
     
    Earlier this year, the lenders' attempt to sell the Kingfisher House in the city for Rs. 150 crore and the Kingfisher brands for Rs. 367 crore failed, as no bidders turned up.
     
    The official said the department may go in for another round of bidding involving domestic aviation companies alone, or lower the reserve price, depending on what the government chooses to do.

    MORE India ARTICLES

    Gurmeet Ram Rahim Singh Unveils His Filmstar Avatar

    Gurmeet Ram Rahim Singh Unveils His Filmstar Avatar
    Be it on expensive TV commercials, internet space, popular social networking sites, posters, other audio-video mediums or his followers dressed in colourful MSG attire moving around in malls - he is all over.

    Gurmeet Ram Rahim Singh Unveils His Filmstar Avatar

    Sunanda Murder: Tharoor Seeks Professional Probe, To Be Questioned Soon

    Sunanda Murder: Tharoor Seeks Professional Probe, To Be Questioned Soon
    A friend of Sunanda Pushkar who dropped her to the hotel where she was later found dead has been quizzed in connection with her murder and 12 more people including her husband Shashi Tharoor will soon be questioned, Delhi Police said

    Sunanda Murder: Tharoor Seeks Professional Probe, To Be Questioned Soon

    13th Pravasi Bharatiya Divas Ends, 15 Diaspora Members Honoured

    13th Pravasi Bharatiya Divas Ends, 15 Diaspora Members Honoured
    The three-day Pravasi Bharatiya Divas, attended by around 4,000 diaspora members, came to an end with the conferment of the Pravasi Bharatiya Samman awards by Vice President Hamid Ansari to 15 prominent diaspora members.

    13th Pravasi Bharatiya Divas Ends, 15 Diaspora Members Honoured

    Amarinder Singh Meets Sonia, Seeks Leadership Change In Punjab

    Amarinder Singh Meets Sonia, Seeks Leadership Change In Punjab
    Former Punjab chief minister Amarinder Singh Friday met Congress president Sonia Gandhi and is understood to have sought a change ofleadership in party's state unit.

    Amarinder Singh Meets Sonia, Seeks Leadership Change In Punjab

    All PIOs are now overseas citizens of India: Government

    All PIOs are now overseas citizens of India: Government
    The government Friday announced that all Persons of Indian Origin (PIO) card holders will be deemed to be Overseas Citizens of India (OCI) card holders.

    All PIOs are now overseas citizens of India: Government

    I Was Libidinous Since School: Uber Cab Driver Tells Police

    I Was Libidinous Since School: Uber Cab Driver Tells Police
    "I was libidinous from my school days," Uber taxi driver Shiv Kumar Yadav, accused of raping a 27-year-old woman executive in his cab Dec 5 last year, told Delhi Police during the probe.

    I Was Libidinous Since School: Uber Cab Driver Tells Police