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

Ideally the proceeds should go to the banks.

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

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

Interesting

Hope for better recovery

only peanuts compared to what he owes..

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....

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

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Vidya Dinker, Naveenchandra to participate in national level consultation on Urban Governance

Media Release

January 21,2020

Mangalore, Jan 21: Former city councillor and social activists Naveenchandra and social activist Vidya Dinker have been invited to participate in two-day National Level Consultation on Urban Governance which will take place on January 22 and 23 at Juniper Hall, India Habitat Centre, New Delhi.

Urban governance stakeholders of 20 states and one union territory will be participating in this national level consultative seminar. The participants will include elected representatives, NGO representatives and urban planning experts. The seminar is being organised by Mumbai based Prajna Foundation, which has undertaken an in-depth study of the governance of the 20 states and one union territories.

Having served several terms as a corporator of Mangaluru City Corporation, Naveenchandra is knowledgeable in matters relating to urban governance. He is very popular in his constituency. Vidya Dinker is a well known city based social activist. She is the Coordinator, Citizens Forum for Mangalore Development.

Comments

Vidya Dinker I can understand but Naveen i don't know on what qualifications and credentials he has been selected and to say he is Popular in his constituency is a Misnormer . Just visit kambla ward once and speak to people and you can understand it better !!!

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Covid-19 : Man booked for controversial social media post in Mangaluru

News Network

March 30,2020

Mangaluru Mar 30: The Mangaluru South Police has registered a criminal case against a man over a 'derogatory post' against the district administration. According to DC Sindhu B Rupesh, the man identified as Melwyn Pinto had sent a derogatory message on WhatsApp.

She warned on taking stringent action against miscreants who are spreading false information and rumours about district administration under DM Act provisions.

Meanwhile, City Commissioner of Police Dr P S Harsha said, "We have noticed people going around on merry rides without purpose either on two-wheelers or in cars during the lockdown period."

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Amendment in APMC Act will aid farmers in getting remunerative price: BSY

News Network

May 15,2020

Bengaluru, May 15: Karnataka Chief Minister BS Yediyurappa on Friday said that the new amendment in the Agricultural Produce Marketing Committee (APMC) Act will substantially aid the farmers in getting remunerative price for their produce.

"Our motto is 'First Farmers'. The new amendment in the APMC Act will provide an opportunity for farmers to sell their produce directly to any purchase outside APMC or in other APMCs. This will help the farmers in getting remunerative price for their produce," CM Yediyurappa tweeted.

"Amendment will not dilute the powers of the work of the APMCs. All these marketing activities will be monitored by the Directorate of State APMC. This new amendment Act will benefit farmers in improving their income & suffering from losses due to market fluctuations," the Karnataka CM added.

Yediyurappa further said that the amendment will indirectly help farmers in doubling their income by 2022.

"This amendment will indirectly help farmers in doubling their income by 2022. I want to clarify that we have not removed the APMC Act, we are only amending 2 sections of the APMC Act which enable farmers to sell their produce at the markets where they intend to," he tweeted.

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