The reserve price for the once-famous tagline "Fly The Goodtimes' has been kept at less than one-tenth the price at which it was pledged with as a collateral for the loan but still, bidders were hard to come by.
Kingfisher Airlines' lenders failed to get any bidders for the sale of the company's brand, trademarks and taglines in a bid to recover their dues from beleaguered businessman Vijay Mallya.
At 1130 am on Saturday, lenders initiated an auction of various brands and trademarks of the long-grounded Kingfisher Airlines, including its once-famous tagline 'Fly The Goodtimes', but bidders were hard to come by.
The auction lasted for one hour.
The auction failed despite the reserve price for the trademark was kept at Rs 366.70 crore, not even one-tenth of the price at which it was pledged with as a collateral for the loan.
This follows the failed auction of the Kingfisher Villa in Vile Parle last year, even after the 17,000 sq ft property was priced at a meagre Rs 150 crore.
Besides the logo, the 17 lenders led by SBI have put on sale other trademarks of the now-defunct airline such as the once-famous 'Fly the Good Times' tagline, Flying Models, Funliner, Fly Kingfisher and Flying Bird Device.
Mallya's trademarks under the hammer
- Fly the Goodtimes
- Kingfisher Airlines logo
- Flying Models
- Funliner
- Fly Kingfisher
- Flying Bird Device
- Kingfisher Airlines brand
The brand Kingfisher was collateralised to banks for a whopping Rs 4,000 crore (by Grant Thornton) in 2010, now down to a trickle.
The online auction of brand Kingfisher is being conducted by SBI Cap Trustee Company on behalf of lenders under the SARFAESI Act.
Mallya had pledged the trademarks as collateral with banks at the time of taking loans from them.
At its peak, the Kingfisher Airlines was the largest airline in the country, with a five-star rating from Skytrax, according to the airline's annual report for 2012-13.
Last month, the consortium of banks had failed in its attempt to sell the airline's erstwhile headquarter Kingfisher House here.
Mallya left the country on March 2 for London. Earlier this week, the government had asked Britain to deport Mallya, citing the revocation of his passport and a non-bailable warrant against him.
(With PTI inputs)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Vijay Mallya")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}