You are here: Home » Current Affairs » News » National
Business Standard

Delhi-based Choudhary Aviation acquires Mallya's two choppers in e-auction

The 3-year-old firm also provides ground operations and air ambulance service to hospitals in NCR region

Vijay Mallya Case  |  Debt Recovery Tribunal  |  Kingfisher Airlines

IANS  |  Bengaluru 

Vijay Mallya
FILE PHOTO: Vijay Mallya | Photo: Reuters

Delhi-based Choudhary Aviation Facilities Ltd had bought two helicopters of fugitive business tycoon in an e-auction conducted by the (DRT-II) here, a company official said on Wednesday.

"Our company bought the two personal copters of Mallya for Rs 87.5 million at the price of Rs 43.7 million each in the electronic bidding conducted by the DRT in Bengaluru," Choudhary Aviation Director Satyendra Sehrawat told IANS from Delhi on phone.

The Tribunal held the e-auction on behalf of a consortium of 17 banks which filed the case in 2013 against Mallya and his defunct Ltd for defaulting on loans borrowed from 2007-2012.

"Though the 5-seater Airbus Eurocopter B155 choppers are 10-year-old, they are in a serviceable condition, with a good dual engine and are currently parked at Juhi airport in Mumbai," said Sehrawat.

Three firms participated in the auction, held with minimum bid price of Rs 17.5 million for each copter of model 2008, last flown in 2013.

"We want to make use of the choppers for commercial activity, including chartered service," Sehrawat noted.

The 3-year-old firm also provides ground operations and air ambulance service to hospitals in the capital region (NCR).

The Tribunal, however, did not inform the media about the e-auction.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, September 20 2018. 01:02 IST