No One Ready To Buy Kingfisher’s Brand Name – Vijay Mallya

No One Ready To Buy Kingfisher's Brand Name

On Saturday one more attempt made by the Banks for the Auction of Brands and Trademarks of Kingfisher Airline. Auction Start in morning at 11:30 AM and it remains continue for 1 hour , the reserved price set by the lenders is 366.70 crore but no-one bid nearest to reserve price not even 10% of its base price.

Lenders suggested a best tagline to the Auction “Fly the Good Times”. Auction has been done online means its a E-Auction where Kingfisher Logo included along with Flying Bird Device, Fly Kingfisher, Flying Models, Funliner.

“Vijay Mallya have to pay Rs.9000 Crore¬†To Bank”

Bank Said “There were no bids, possibly because the reserve price was considered very high. Though the reserve price was set much lower than its original valuation at the time of taking the brand as collateral, people still found it to be high,” Excluding loan from other sources, SBI and 17 other banks available in Auction.

Kingfisher itself valued 4000 crore INR, according to companies own report in 2012-13 Skytrack company gave him 5***** rating.

Last month bank tried to sell Airline Headquarter Kingfisher House but Output comes from their, no bidder come forward to bid, Reserve price for the Kingfisher House in Auction was 150 Crore INR. It is in 17000 Sq. Ft near to Domestic Airport.