Service Tax Department to auction Mallya plane on Nov 28

In its bid to recover around Rs 535 crore due from beleaguered businessman Vijay Mallya, the Service Tax Department is looking at having more participation when it re-auctions his luxury personal jet on November 28-29.

The e-auction will be carried out by MSTC, the department said, adding it had roped in a professional valuer for revaluation of the aircraft



following a recent Bombay High Court order to do so at a reduced reserve price.

The department had initially fixed a reserve price of Rs 152 crore but could not find a buyer following which the high court had ordered to review the price. But the department official refused to share the quantum of price reduction saying doing so would hamper sale prospects.