Vijay Mallya’s 8 luxury cars to be auctioned by SBI on August 25


New Delhi: After the failure of SBI in auctioning the Kingfisher House, this will be the second asset belonging to Mallya, for which the bank has lowered the price. The auction for trademarks will be held on August 25. As of January 31, 2014, Mallya's Kingfisher Airlines owed banks a staggering Rs 6,963 crore. Which is why SBICAP Trustee Company Limited plans to carry the sale of trademarks through an online auction. It will be held between 11.30 am to 12.30 pm. Bids will be accepted till August 23, 5 pm. The reserve price is Rs 330 crore, with an Earnest Money Deposit of Rs 33 crore.

Meanwhile Mallya's 8 luxury cares will be auctioned by public lender SBI on August 25. Mallya is wanted by the Enforcement Directorate in its money laundering probe and the agency has also sought a global arrest warrant against them from the Interpol.

The Enforcement Directorate (ED) has published a court-issued proclamation for Mallya to appear before the special PMLA court on July 29. The Enforcement Directorate had earlier in May obtained a non-bailable warrant against Mallya from a Mumbai court