SBI Cap arm to auction KFA’s Mumbai airport assets on 7th Dec

The auction is aimed at recovering Rs. 6,963 crore (excluding interest) that Kingfisher Airlines owes to a consortium of lenders.

SBI Cap Trustee Company will auction the moveable assets of the now grounded Kingfisher Airlines located at Mumbai’s international airport on 7th December.

The auction will take place between 11 am and 1 pm on 7th December.

The auction is aimed at recovering Rs. 6,963 crore (excluding interest) that Kingfisher Airlines owes to a consortium of lenders.

The assets that will be auctioned include forklifts, cranes, towing machines, tractors, tempoes, cars, trolleys, ladders and aircraft pullers, according to a notice by SBI Cap.

A bid must be made for all the assets collectively and the reserve price is fixed at Rs. 65 lakh. 

Bid applications should be submitted by 2nd December.

The notice lists Kingfisher Airlines as the borrower, and United Breweries and Vijay Mallya as the guarantors.