24 July,2016 08:56 AM IST | | Varun Singh
The once-famous 'Fly the Good Times' tagline, Flying Models, Funliner, Fly Kingfisher and five other trademarks that defined Vijay Mallya’s airline are up for grabs for the second time around
The once-famous 'Fly the Good Times' tagline, Flying Models, Funliner, Fly Kingfisher and five other trademarks that defined Vijay Mallya's airline are up for grabs for the second time around. This time at a lower rate. Earlier in April, the bank had quoted a price of Rs 366.70 crore for the nine trademarks. However, the rates have been lowered to Rs 330 crore.
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.
Brand guru, Alyque Padamsee feels the trademarks are overpriced. "Why not sell everything together? It's like buying the goose that won't lay golden eggs. The standalone logo means little when not attached to the airline. Mallya lived up to his promises, when it was in air. So whoever buys it, will have to live up to the status. My advice is don't." SBI did not respond to mid-day.
