The moveable assets of the beleaguered Kingfisher Airlines located at Mumbai’s international airport will be auctioned online by SBICap Trustee Company on December 7.
The exercise is aimed at partially recovering the ₹6,963 crore (excluding interest) that the airline owes a consortium of lenders.
According to a notice on the SBICap website, the assets that will be auctioned include forklifts, cranes, towing machines, tractors, tempoes, cars, trolleys, ladders and aircraft pullers.
The bid must be for all the assets collectively and the reserve price is ₹65 lakh. Bid applications should be submitted by December 2.
The notice lists the borrower as Kingfisher Airlines and the guarantors as United Breweries and Vijay Mallya.
The auction will take place between 11 am and 1 pm on December 7, with the option to extend it if the process is not complete.