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  1. Two helicopters of Kingfisher Airlines auctioned for Rs 8.5 crore

Two helicopters of Kingfisher Airlines auctioned for Rs 8.5 crore

Two helicopters of defunct Kingfisher Airlines were auctioned Wednesday for over Rs 8.5 crore, according to an official.

By: | New Delhi | Published: September 19, 2018 10:40 PM
Kingfisher Airlines, Kingfisher Airlines helicopters auctioned, vijay mallya, kingfisher airlines loan default case Mallya is wanted by Indian authorities in the over Rs 9,000-crore Kingfisher Airlines loan default case. (Reuters)

Two helicopters of defunct Kingfisher Airlines were auctioned Wednesday for over Rs 8.5 crore, according to an official. The Airbus helicopters were put on the block by lenders to recover outstanding dues from fugitive liquor baron Vijay Mallya, who owned Kingfisher Airlines. An official in the know of the development told PTI that the two helicopters were auctioned for over Rs 8.5 crore Wednesday. The total reserve price for the two choppers was Rs 3.5 crore, as per the sale proclamation document issued by the Debts Recovery Tribunal.

The e-auction was held in Bengaluru. A representative of New Delhi-based Choudhary Aviation Facilities claimed that it has emerged as the winning bidder in the auction and would pay Rs 8.57 crore for the two helicopters. Debt-laden Kingfisher Airlines went belly up in October 2012. Mallya is wanted by Indian authorities in the over Rs 9,000-crore Kingfisher Airlines loan default case.

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