Mumbai: The first attempt at partially recovering Rs 6,963 crore, excluding interest, that the now defunct Kingfisher Airlines owes a consortium of lenders did not yield the desired results on Monday, with bidders stalling the online auction of 75 moveable assets with various queries. SBICAP Trustee Company Ltd, which tried to auction the moveable assets of Kingfisher Airlines through an online e-auction website called Auction Tiger for Rs 65 lakh, has now decided to sit down with the 10 bidders who had registered for participation and address their concerns. "The auction was unsuccessful because it could not be executed due to technical reasons," banking sources said.
A spokesperson from SBICAP refused to comment when contacted by Mumbai Mirror. Banking sources in the know disclosed that they were faced with a wide range of queries and concerns expressed by the bidders.
"These ranged from valuation to legalities, and the actual recovery of the listed items," an official said, adding that such issues generally cropped up when an auction was the result of litigation.
SBICAP officials revealed that all the hypothecated assets were located at two different sites within Mumbai airport, and thus, the bidders who had shown interest, were from the city and surrounding areas. Following discussions to allay any fears raised by the bidders, SBICAP will re-auction the 15 cars, 11 minitrucks, four tractors, four forklifts, 15 trolleys, 10 pushback vans, 11 aircraftpullers, cranes, shed ladders, fire extinguishers, generator sets, and trolleys with staircases. Officials also indicated that Kingfisher Airlines` Rs 100-crore Mumbai head office at Vile Parle too will be put up on the block soon.
08/12/15 Nyooz
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A spokesperson from SBICAP refused to comment when contacted by Mumbai Mirror. Banking sources in the know disclosed that they were faced with a wide range of queries and concerns expressed by the bidders.
"These ranged from valuation to legalities, and the actual recovery of the listed items," an official said, adding that such issues generally cropped up when an auction was the result of litigation.
SBICAP officials revealed that all the hypothecated assets were located at two different sites within Mumbai airport, and thus, the bidders who had shown interest, were from the city and surrounding areas. Following discussions to allay any fears raised by the bidders, SBICAP will re-auction the 15 cars, 11 minitrucks, four tractors, four forklifts, 15 trolleys, 10 pushback vans, 11 aircraftpullers, cranes, shed ladders, fire extinguishers, generator sets, and trolleys with staircases. Officials also indicated that Kingfisher Airlines` Rs 100-crore Mumbai head office at Vile Parle too will be put up on the block soon.
08/12/15 Nyooz
