The Service Tax Department will auction liquor baron Vijay Mallya-led now-defunct Kingfisher Airlines' corporate jet in March to recover dues of Rs535 crore. The department in Mumbai has invited online global bids for sale of Corporate Jet Airbus A319 stationed at the Mumbai International Airport belonging to Kingfisher Airlines, which has already been attached by it.
The bidding will be conducted by MSTC, the selling agent of the Service Tax Department, on March 15-16, an auction notice stated. As part of the pre-bid verification, bidders can seek clarification from the department regarding the aircraft, its particulars, equipment and any related documents at least 24 hours prior to submission of bid in the e-auction.
“The bidder will not raise any dispute regarding the terms and conditions of the e-auction or about the particulars of the aircraft or contest the same once he has been declared as the successful bidder for the aircraft,” said the guidelines for the e-auction. The prospective bidders shall have to submit interest free pre-Bid Earnest Money Deposit (EMD) to MSTC by March 14. EMD for Indian bidders has been kept at Rs50 lakh while it will be $75,000 for foreign players.
