According to a senior official from State Bank of India, during the auction, a Ferrari that was priced at Rs 29.75 lakh and a Pajero for Rs 4.67 lakh found buyers
Call it irony, but liquor baron Vijay Mallya's liquor amounting to Rs 78.45 lakh, was put up for auction and has failed to find any takers. The auction for the liquor from his Kingfisher Villa in Goa took place on July 15 and nothing from the alcohol stock was sold. The bank, however, managed to sell a Ferrari and a Pajero car that belonged to Mallya.
A sale proclamation was put up by the central government's Department of Financial Services Debt Recovery Tribunal, Karnataka in June. Not only alcohol but a theatre worth Rs 23.48 lakh was also put up for auction, as was a discotheque.
According to a senior official from State Bank of India, during the auction, a Ferrari that was priced at Rs 29.75 lakh and a Pajero for Rs 4.67 lakh found buyers. It was an e-auction and was held on July 15.
A total of 24 items were put on sale, of which the most expensive was alcohol. The total price of all the 24 items was around Rs 2.30 crore. According to a senior official from SBI's stressed assets management department, Bangalore, the immovable properties were open to being bought on individual basis and anybody from India could have participated in the auction.
"We were expecting the alcohol to be sold. Instead, the cars are gone. The Ferrari has been auctioned for a price way higher than its reserve price. Meanwhile, the Pajero is was auctioned close to the reserve price," the senior official said.
The total amount that Kingfisher Airlines Limited and others owe are Rs 6,203 crore. It was only last month that the bank failed to sell the Kingfisher house, a Mumbai-based property, owned by Mallya and his company.
The other properties that were being auctioned included chandeliers and electrical luminaries at Rs 6.20 lakh, a music system was priced for Rs 44,013. Two dehumidifiers for Rs 1.08 lakh and two bottle freezers were also auctioned at Rs 75,200.
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