SBI Cap acted apparently after media reports claiming about airport operator Mumbai International Airport Limited (MIAL) selling these assets as junks to recover its due of about Rs53 crore from the now-defunct Kingfisher airline.
A consortium of banks under SBI Cap will soon take over the custody of about 40 vehicles and a personal jet of Vijay Mallya among other abandoned support system assets lying on the premises of the Chhatrapati Shivaji International Airport (CSIA), freeing about 26,000 sqft of space for other usage.
SBI Cap acted apparently after media reports claiming about airport operator Mumbai International Airport Limited (MIAL) selling these assets as junks to recover its due of about Rs53 crore from the now-defunct Kingfisher airline.
A source in the bank has revealed that soon after the media reports, when they approached MIAL for assessing the assets, the airport operator started showing hesitance. dna had in its May 7 edition reported about MIAL issuing an open tender to sell the 39-odd vehicles as junk. The operator has earlier sold off one of Mallya's personal jets to a Sakinaka based junk shop owner, reportedly for Rs 22 lakh.
The banks then approached the debt recovery tribunal and got an order restraining MIAL from selling the assets. This order was later challenged in the Karnataka High Court. The court, then allowed SBI to take possession of the assets and auction them in two months.
MIAL officials, however, have a different version. An official said, “We have been writing to SBI Cap since past two years, but received no response. Hence, in order to clear the place where these abandoned assets are lying, we had decided to sell them. It’s good that now with the court order, the space will be freed for other operational works.” He added that the operator wouldn’t have got anything substantial by selling the assets as junk.
Meanwhile, the banks are gearing up to take possession of Mallya's palatial villa in Goa by this month end. Also, they will shortly auction the Kingfisher House near Vile Parle after having reached at an agreement with the income-tax department who had laid claims to the proceeds.
Kingfisher Airlines, grounded since October 2012, owes over Rs 7,000 crore to bankers who have been trying to recover their money by selling securities pledged by the firm. These include properties and shares in group entities. Banks managed to sell about 4 lakh shares of United Spirits for Rs 104 crore last year.
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