Soon, Vijay Mallya's assets which are worth over Rs 700 crore will be auctioned next month by lenders and tax officials, as per a PTI report.

Last week, the Supreme Court issued notice to liquor baron and his defunct Kingfisher airlines on a contempt petition moved by a consortium of 17 banks claimed he had not complied with the earlier order to disclose all his assets.

The items to be auctioned are:

1. Kingfisher House near airport
2. Cars which includes Honda City EXI, Hyundai Elantra, Toyota Corolla, Honda Civic, Toyota Innova, Honda City ZX.
3. Office furniture
4. Mallya's plush personal jet along with everything inside that include cushy couches and even a bathrobe
5. Kingfisher Villa in Goa
6. Numerous brands and trademarks including the famed 'Fly with Good Times',Flying Models, Funliner, Fly Kingfisher and Flying Bird Device
7. Movable secured assets worth Rs 13.70 lakh lying at Kingfisher House for sale.
8. Movable secured assets will be auctioned separately on August 25 by SBI Cap Trustee, which possesses these assets on behalf of the lenders.

Mallya's personal jet is being put under hammer by the service tax department, while other properties will be auctioned by the lenders whose dues from long-grounded Kingfisher Airlines have ballooned to over Rs 9,000 crore including penal interest, PTI said.

On August 4, the lenders will re-auction Kingfisher House, the erstwhile headquarters of the airline, at a lower reserve price of Rs 135 crore, added.

Goodreturns.in