Hyderabad: A bespoke private jet that once belonged to beleaguered businessman Vijay Mallya is now up for sale. But not without a rider. According to a notice from the service tax department, the earnest money deposit to participate in the bid — for Indian nationals — is Rs 1 crore.
The jet, which was named VT-VJM — Mallya's initials can seat up to 25 passengers, six crew and has been exclusively “designed for luxurious use”, according to the notice.” It has been parked at Mumbai airport for some years now. The e-auction notice was issued on March 23 and the auction will be carried out between May 12 and May 13.
The prospective bidders will be allowed to inspect the aircraft from April 2.
According to reports, the service tax department had also seized five ATR aircraft and two helicopters belonging to Kingfisher, back in 2013. The sale of Mallya’s private jet is part of the department's efforts to recover around Rs 600 crore in dues from the airline.
Mallya-led Kingfisher Airlines owes Rs 9,000 crore to various banks and he has shifted his base to London. This is Mallya’s second aircraft, which is put on sale. Almost a year back, an Kingfisher Airlines aircraft — for exclusive use of Mallya — was auctioned to recover dues owed by the now-defunct airline to Mumbai airport.
The aircraft was bought by a Mumbai-based company — Silent Enterprises for Rs 22 lakh. The buyer, however, did not use the aircraft as reports suggested that the company would sell it as scrap to recover his money
