With DSK handing over the reins of its Hyosung and Benelli businesses last year, there’s still some business that needs to be completed. Union Bank of India is in the possession of 47 Benelli and Hyosung motorcycles along with the manufacturing plant. These will now be auctioned online.
Interestingly, the bikes listed include quite a few that weren’t retailed in India. It does however offer an insight into potential product plans DSK had for both brands in India. There’s a few Benelli 150cc bikes, 125cc scooters and 150cc scooters on the list.
Prior to DSK winding up business, in its heydays the company was also prepping to introduce the Keeway brand in India. The long list of bikes for auction include a couple of Keeways –Keeway Dorado 250, 202, RKS 150 Sport, and Blackster. A Hyosung GV250 Aquila, and Hyosung 250 Exiv are on the list.
The quarter-litre Benelli Zafferano 250 EFI scooter and Benelli MotoBi-250 Patagonian Eagle that were previously spied testing in India is also on the list. Another test vehicle being auctioned is the Benelli TNT 135 that was being tested back in 2017. There’s a single unit of the 1130cc Benelli Trek Amazonas, along with Tornados up for auction. The rest of the 43 item list includes the regular suspects, and is dominated by Benelli TNT 600s, and Hyosung 250s.
Reserve price for all bikes is listed with a 10 percent EMD. Bid increment amount is decided at Rs 2,000. Seeing the wide range of segment offerings listed, individual bike price ranges from Rs 70,000 to Rs 7.57 lakhs.
Entire Movable fixed assets such as plant and machinery, assembly line, equipment, furniture, spare parts of Bennelli and Hyosung (Lot) is listed at Rs. 2,80,00,000.00 (EMD – Rs. 28,00,000.00).
The listing includes movables hypothecated to Union Bank of India. The listed movables are in possession under the provision of Section 13(4) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Listed products are being sold by E- Auction for recovery of under mentioned dues and further interest, charges and costs, etc. Listed movables are being sold on ‘As is, where is, whatever there is and without recourse basis’. The sale does not come with warranty or indemnity.
The online auction is scheduled for 26.07.2019 at www.bankeauctions.com between 11 AM to 4 PM, for the purpose of recovery of bank dues. In all dues amount to debt, due with interest as on 28.02.2019 – Rs. 17,27,80,875.48 + further interest + Legal Expenses + further costs and expenses incurred.