Vijay Mallya’s aircraft to be auctioned; expected to fetch around Rs 535 crore

Vijay Mallya’s corporate jet of the now-defunct Kingfisher Airlines will be auctioned by the Service Tax Department so they can recover dues worth Rs 535 crore.

Online bids for the sale of Corporate Jet Airbus A319 belonging to Kingfisher Airlines have been invited by the department in Mumbai. The bidding will be conducted by MSTC, the selling agent of the Service Tax Department, on November 28th-29th an auction notice said.

So as to verify the pre-bid queries, bidders can seek information from the department regarding the aircraft, its particulars, equipment and any related documents.

"The bidder would not raise any dispute regarding the terms and conditions of the e-auction or about the particulars of the aircraft or contest the same once he has been declared as the successful bidder for the aircraft," said the guidelines for the e-auction.

The interested bidders will have to submit pre-Bid Earnest Money Deposit (EMD) to MSTC by November 27th.

The aircraft is stationed at the Mumbai International Airport.
(image: Indiatimes)

Mallya, whose group company owes over Rs 9,000 crore to 17 banks, had left the country on March 2 and is believed to be in the UK.