Runaway businessman Vijay Mallya’s luxury jet sold for $5.05 m

After at least four aborted attempts since March 2016, the service tax authorities managed to get a buyer for the confiscated luxury jet of the runway businessman Vijay Mallya, with a Florida-based Aviation Management Sales emerging as the highest bidder for Rs 34.8 crore ($5.05 million) last Friday, a source said.

The service tax authorities had put the luxury A319 jet, which Mallya used to crisscross the world to solicit business deals, under the hammer to recover their dues to the tune of Rs 800 crore accumulated on account of non-payment of service tax before his erstwhile Kingfisher Airline went belly up in October 2012.

The transaction was completed last Friday through an e-auction, following a court order, the source said, adding the jet has been parked at a hangar of the Mumbai airport since its confiscation in 2013.