Hubballi's businessman buys Mallya's 2 luxury cars for mere Rs 1.58 lakh

DHNS
August 28, 2017

Hubballi, Aug 28: Good times have begun for Hubballi's businessman Hanumantha Reddy as he purchased two cars belonging to liquor baron Vijay Mallya, at Rs 1.58 lakh through an online auction. The original cost of those cars were Rs 53 lakh, when Vijay Mallya purchased them years ago.

He paid Rs 40,000 for a 2002 Hyundai Sonata (MH 01 DA 7227), while the 2003 Hyundai Acord 2.4 AT (MH 01 DA 1235) was purchased at Rs one lakh. Remaining amount was paid as taxes.

The two cars were put on online auctioning by United Spirits Company in January after the liquor baron failed to repay the loans taken from various banks. Hanumantha, who has a hobby of collecting second hand cars, bid for the car online purchased it in May. Now they have been delivered to him. While one of the cars came from Bengaluru, the second car was delivered to him from Mumbai.

Both the cars are said to be in good condition, and with news of him purchasing Mallya's car spreading like a wildfire in the city, there has been a demand for those cars now. “People are asking me to resell those cars and they are ready to pay higher price than what I paid for them,” he said.

He said people are ready to pay Rs 2.5 lakh for the Hyundai Sonata, which is golden colour and the second car is currently fetching him Rs 4.5 lakh. However, he has not yet made up his mind to sell these cars.

Comments

Ashish
 - 
Monday, 28 Aug 2017

Ideally the proceeds should go to the banks.

Sukesh shetty
 - 
Monday, 28 Aug 2017

Bidding for his villa is different from bidding for his cars - People will think in a different way to buy a villa if priced low and not even 10 % of the loan can be recovered

Suresh Kamath
 - 
Monday, 28 Aug 2017

When the Owners of such Fleet of Cars is the infamous Mallya how come such demands for Cars at such exorbitant Prices are placed and Villa and other Estate NO ONE is coming ahead to bid ???How come such Money is collected /pocketed by some one other than Banks ??Courts MUST direct such Money collected to repay the outstanding Debts of the Owners and NEVER be pocketed as PRIZE for some other Owner

Nirmal
 - 
Monday, 28 Aug 2017

Hope for better recovery

Mohan
 - 
Monday, 28 Aug 2017

only peanuts compared to what he owes..

Sudeep
 - 
Monday, 28 Aug 2017

Simple... Vijay Mallya needs money to survive... He will auction the cars first.... People buying Mallya''s cars !!!! These will ply on roads only if you put liquor on the fuel tanks....

Pradeep acharya
 - 
Monday, 28 Aug 2017

Rise and heavy fall of a famous-infamous prodigal. Those property become the destructive prosperity for this lustrous man

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News Network
March 29,2020

Mangaluru, Mar 29: Infosys Foundation Chairperson Sudha Murty has sent the second consignment of N95 Masks, Personal Protection Equipment (PPE) and Sanitisers worth about Rs 73 lakhs, City police Commissioner Dr P S Harsha said on Sunday.

"These will be primarily used by Doctors, Nurses and Paramedics of Wenlock Hospital here and masks by the frontline staff of ASHA and police at risk of exposure to the virus,” Dr Harsha tweeted on Sunday.

The district has received the first consignment with critical medical equipment worth Rs 28 lakh from the Infosys foundation on Saturday, March 28.

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Media Release
February 12,2020

Mangaluru, Feb 11: Renowned journalist and winner of Magsaysay award, P Sainath will be in Mangaluru on February 14 & 15 at St. Aloysius College (Autonomous). He will speak on the topic ‘Indian democracy in post liberalisation and post truth era’.

P Sainath’s two-day visit to St. Aloysius College will also feature a workshop by the veteran journalist on his rural development project PARI (People’s Archives of Rural India). It is a part of the tenth edition of Media Manthan, a National level media fest organised by the post-graduate department of Journalism and Mass Communication of St. Aloysius College.

P. Sainath is a veteran journalist and media activist who has an avid interest in rural reporting. People’s Archives of Rural India (PARI), a digital journalism platform is an initiative put forward by him which aims to document rural Indian lives and livelihood. Sainath is also a teacher who has trained over 1000 media persons across 27 years.

Media Manthan is a media festival by the PG Department of Mass Communication of St. Aloysius College (Autonomous). Besides endowment lecture and workshop by P. Sainath, the fest holds various media-related competitions for the students of various colleges from across the state.

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Agencies
February 25,2020

Bengaluru, Feb 25: Opteamix LLC (Opteamix), a digital technology firm, announced today that they have been awarded as a 'Dream Company to Work For' by the World HRD Congress.

Opteamix was ranked 11th in this category which had companies from multiple industries across the globe vying for the title.

In addition to the Dream Company ranking, Opteamix was also recognized for its innovative HR practices and Corporate Social Responsibility practices. The event took place at Taj Land's End in Mumbai on February 16.

Opteamix presented their concept 'Happiness at Work - When Culture drives Performance' that elaborated upon the methodology behind the enhancement of employee happiness.

"We have taken a holistic approach to help our people stay happy at work. While we knew that EQ and IQ were critical to the growth of people, we also believed that it is the Spiritual Quotient (SQ) which our in-house NGO - Right To Live caters to, that helps our people experience next-level career growth," said Varsha Dubey, Lead - Happiness and Learning Activator, while explaining the theory behind the happiness at work during the 30-min presentation before delegates from 65 countries.

"We have empowered our people by equipping them with the right set of tools to help them excel in their performance based on OKR (Objectives and Key Results), CFR (Communication, Feedback, and Review) and Competency Mapping. The optimum blend of these performance management tools has resulted in making a significant impact on the careers of our people and therefore, happy people and 100 per cent innovation and efficiency at work," added Shalu Priya - Director, People Experience.

Now in its 28th year, the World HRD Congress presents awards to organizations that promote innovative human resources practices. The award categories include leadership, talent management, employer branding, training and development, employee engagement, and more.

In the recent past, Opteamix had been recognized for its commitment to employee excellence with numerous awards and recognitions including 'Dream Companies to Work for' in 2017 and 2018.

World HRD Congress is billed as South Asia's largest HR event, featuring an eminent panel on international and local speakers from across public and private sectors.

The conference serves as a platform for the HR fraternity to deliberate on the insights, initiatives and implications of people management practices. The theme this year 'Happiness at work', recognized individuals and companies for their exceptional people management practices.

"We strongly believe in creating a culture of happiness at Opteamix. To us, happiness is as important as revenue and profits. The culture of happiness has been the Opteamix way of life since inception, which has led us to achieve our ultimate goals - higher career growth for all members and richer customer experience," said Raghurama Kote - Founder and COO of Opteamix, on being asked what a happy organization meant to him.

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