Daijiworld Media Network – Mangaluru (SS)

Mangaluru, Sep 8: The forest department has finally succeeded in auctioning valuable red sandalwood weighing 56.2 tonnes that had been lying in Navamangaluru port yard for the last 15 years.

The timber was seized when it was being illegally exported.

Three bidders have bought the valuable red sandalwood by paying Rs 28 crore for it.

The timber was seized in 2008 when it was illegally being exported as it was also stolen.

Representational image

As per Supreme Court's direction, global tenders were floated by the forest department to dispose of the valuable timber.

Vikas Dhawan firm paid Rs 14.4 crore for the valuable timber to buy 18 lots while Yama Ribbons bought 5 lots by paying Rs 4.2 crore and Axa company bought 3 lots by paying Rs 1.6 crore. The valuable timber was sold for Rs 21 crore. Goods and services tax (GST) of 18%, forest development fee and a 2.5% access benefit fee was levied taking the value of the timber to Rs 28 crore which will go as income proceeds to the government's coffers.