In bad times, Vijay Mallya's luxury jet awaits a buyer!


Mumbai, May 15 (PTI) : Waiting to be auctioned off by tax authorities for recovery of their dues, the erstwhile 'King of Good Times' Vijay Mallya's private luxury jet is reminiscent of his high-flying days -- interspersed with plush sofas, a cushioned bed, bars, showers and even a bathrobe.

The 25-seater has also got portraits of gods inside while the exterior has got names of Mallya's three children -- son and two daughters -- imprinted on the nose of the plane. His own initials 'VJM' form part of the name of the jet.


As banks seek to recover dues worth over Rs 9,400 crore in loans and interest from Mallya's long-grounded Kingfisher Airlines, the Service Tax Department is trying hard to sell off his personal jet to recover its over Rs 500 crore dues.

The Airbus plane, grounded for over three years and gathering dust in a lonely bay at the Mumbai airport, is among the many properties of the businessman that are on the block.

Reflecting the personalised ways of Mallya, once known as 'King of Good Times' and often criticised as being flamboyant, the interior of the plane has also got at multiple spots the winged horse perched over the bold initials 'UB' -- the logo of his UB group.

The pictures shared with the prospective bidders also show a bathrobe placed on a hanger inside a wardrobe.

The Airbus A319-133CJ is on the block with the condition 'As Is Where Is, As Is What Is, Whatever There Is and No Complaint basis'.

Auction of the aircraft, originally scheduled for May 12-13, has been postponed to June 29-30 as only one bidder turned up in the earlier attempt.

Among others, the interested party is required to deposit a pre-bid amount of Rs 1 crore to participate in the auction, to be conducted by state-owned MSTC Ltd.

However, response to the proposed sales of Mallya's other assets has also not been encouraging so far.

Efforts of a consortium of banks, last month, to sell his airline's erstwhile headquarters 'Kingfisher House' in Mumbai failed at the high reserve price of Rs 150 crore.

Also, there were no takers for Kingfisher brands and associated trademarks carrying a reserve price of Rs 367 crore.

Meanwhile, lenders have also taken possession of the famous Kingfisher Villa in Goa, which banks say was pledged by Mallya as collateral for loans.

The banks so far have recovered over Rs 1,240 crore by selling shares and collaterals. Besides, more than Rs 1,200 crore is blocked in escrow accounts at the Debt Recovery Tribunal, Bengaluru, and the Karnataka High Court.

In April, the embattled businessman had told the Supreme Court that he was ready to repay up to Rs 6,800 crore.

Amid mounting pressure from lenders on the loan default, Mallya left the country in March, presumably for the UK, and since then, authorities have been making efforts to bring him back.

His passport has been revoked and there is also a non-bailable warrant against him.

He has been objecting to the 'fugitive' tag and said in a recent interview in London that he was in a "forced exile" and has now become "the king of bad times".

  

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Comment on this article

  • Felix, Mangalore

    Mon, May 16 2016

    Yeth? Kammi'd Unda?

    DisAgree Agree [1] Reply Report Abuse

  • John, Mangalore

    Mon, May 16 2016

    In good times, Mallya could eat, drink and shit in his plane, whereas in bad times, he lives in a mansion in UK after evading his payments that are due. Mallyas bad times look like they are better than his good time he had in India!

    DisAgree Agree [11] Reply Report Abuse

  • JR,

    Mon, May 16 2016

    BANKS CAN ENJOY WITH THIS LUXURY JET.
    BANKS ARE RESPONSIBLE FOR THE MESS.
    BANKS ARE RESPONSIBLE FOR THE LOSS TO EMPLOYEES WHO HAVE LOST JOB AND NOT RECEIVED ANY SETTLEMENT BENEFITS. CATCH THE CONCERNED PERSON AND LET THE TRUTH COME OUT.

    DisAgree Agree [17] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Mon, May 16 2016

    It was bank's money which he looted, enjoyed life and finally cheated. Do you think he would have done like that if at all he used his own savings or bank balance?

    DisAgree [1] Agree [10] Reply Report Abuse

  • Ah Rawaha, Mangalore

    Mon, May 16 2016

    Virat Kholi or Ab Divillers Will Buy... :P

    DisAgree [7] Agree [2] Reply Report Abuse

  • francis, Abu Dhabi

    Mon, May 16 2016

    Dhoni, now it's your time.

    DisAgree [5] Agree [4] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, May 16 2016

    Now he can stop using Adani's Plane ...

    DisAgree [15] Agree [13] Reply Report Abuse

  • A. S. Mathew, U.S.A.

    Sun, May 15 2016

    Both Warren Buffet and Bill Gates, they have smaller long range aircrafts for personal use. Whenever a big group is travelling abroad, then they charter big aircrafts.

    The good times are disappearing for some of the kings of the world and their floating palaces would be on ground as a display object for the onlookers to learn some hard lessons of life because the pride of life will be hit on a concrete wall totally unanticipated.

    DisAgree Agree [13] Reply Report Abuse

  • sri, Karkala

    Sun, May 15 2016

    For a person running aviation business what is the point of having this kind of private jet? It did not generate any revenue.. After all he is not a good businessman. Businessman always wants to make profits. Never wants to end up in loss. Thumb rule. Here it has become dumb rule.

    DisAgree [4] Agree [13] Reply Report Abuse

  • vivek, herebile / abudhabi

    Sun, May 15 2016

    Banks are lending, so they should take risk...bank lending for GAIN..not Donating!!..i don't have any sympathy for Bank ...but Malya...he is not Criminal, but Clever Business man...

    DisAgree [3] Agree [28] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, May 15 2016

    Narendra Modi should use this plane for his International Tours instead of sinking Air India ...

    DisAgree [25] Agree [53] Reply Report Abuse

  • ABD, LOS ANGELES

    Mon, May 16 2016

    WHY CAN'T PAPPU USE THIS PLANE FOR HIS FREQUENT BANGKOK VISITS

    DisAgree [30] Agree [28] Reply Report Abuse

  • Shankar, Mangalore

    Mon, May 16 2016

    Malya's Left overs can be used as basic needs for pappu!

    DisAgree [19] Agree [14] Reply Report Abuse

  • Shivaprasad Shetty, Kateel / Dubai

    Mon, May 16 2016

    Jossey Saldanha, Mumbai,

    Jossy if I was a Congress leader I would have gifted it to you for being Loyal to Congress .. Haha

    DisAgree [8] Agree [12] Report Abuse

  • avani, mlore

    Sun, May 15 2016

    Banks should have accepted the offer of Rs 6800 crores as part repayt. Should have had a meeting with him. By auctioning his assets banks can recover only a small amount (aane hottege kaasina majjige). One should act prudent.

    DisAgree [3] Agree [52] Reply Report Abuse

  • Langoolacharya., Belman/Washington,DC.

    Sun, May 15 2016

    People,

    Whoever buys it(Plane) should wash it with 'Ganga Jal' and perform "Gana Homa' before sitting in it....to drive away Mallya's 'Female Spirits'...

    Anybody wants to buy it...please contact Madraya Bhat of Belman...

    ...JH...

    DisAgree [1] Agree [18] Reply Report Abuse


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