In a bid to recover more than Rs 9,000 crore, the lenders have now put Kingfisher Airlines’ logo on sale with a base price of Rs 366.7 crore.The lenders have scaled up their efforts to recover the corpus amount from Vijay Mallya. The bids for the logo have to be submitted by April 30 and SBI Cap Trustee Co is in-charge of the auction process.
“This is part of the 'sale of trademarks including the brand value of 'Kingfisher logo,” it stated.
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Also, brands and trademarks relating to the label mark of Kingfisher, Fly Kingfisher, the logo of the Flying Bird Device and the word mark 'Fly the Good Times' associated with KFA have been pledged with banks and will be for e-auction on April 30.
However, there is a small catch as it is unclear how Heineken and United Breweries would take up the logo auction issue. As per reports, the trademarks and other promotional material surrounding the brand 'Fly the Good Times' belong to KFA and it is not clear how another beer company could use it.
"There may not be any legal challenge in selling the brand, but there could be commercial challenges in terms of who would want to buy the brand," Prem Rajani, managing partner at Rajani Associates, a law firm, told ET.
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Till now, banks have attempted to sell Kingfisher House in Mumbai but did not receive any bids since the base price of Rs 150 crore, too high for many.
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(Image: Indiatimes)