Mumbai: The service tax department is in the process of auctioning beleaguered industrialist Vijay Mallya’s luxury jet Airbus 319, in Mumbai, in a bid to recover part of the Rs 800-crore service tax due from the now defunct Kingfisher Airlines.
“There are four foreign companies that have registered for the bid process of which one UAE-based company has been qualified so far,” said a senior officer of the department.
Another UK-based contender is also partially qualified but the money deposited is yet to be credited. However, the final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30, said the official.
The e-auction is being conducted by Metal Strap Trading Corporation, which is a government-owned company engaged in domestic and international trading activity. The service tax department hopes to raise Rs 150-200 crore from the auction, said sources.
The reserve price is not disclosed by the department, as it was decided by a special committee dealing with the auction process.
30/06/16 Shrimi Choudhary/Business Standard
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“There are four foreign companies that have registered for the bid process of which one UAE-based company has been qualified so far,” said a senior officer of the department.
Another UK-based contender is also partially qualified but the money deposited is yet to be credited. However, the final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30, said the official.
The e-auction is being conducted by Metal Strap Trading Corporation, which is a government-owned company engaged in domestic and international trading activity. The service tax department hopes to raise Rs 150-200 crore from the auction, said sources.
The reserve price is not disclosed by the department, as it was decided by a special committee dealing with the auction process.
30/06/16 Shrimi Choudhary/Business Standard
