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.
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