Yes Bank puts up for auction two aircraft of Ligare Voyages

New Delhi: Yes Bank has put up for auction two aircraft owned by Ligare Voyages (Ireland) Ltd to recover its loan dues, according to a bank document. Inviting bids for sale of two Beechcraft 1900D Airliner- Turbo Prop aircraft, having seating capacity of 21 each (18+3), Yes Bank in a notice said these aircraft have been mortgaged with the bank for credit facilities granted to Ligare Voyages Ltd.

The auction notice did not mention the amount of credit facilities granted by Yes Bank to Ligare Voyages Ltd.

Ligare Voyages is a group company of RHC Holding Pvt Ltd, which is promoted by brothers Shivinder Mohan Singh and Malvinder Mohan Singh. Ligare Voyages is into the business of providing air charter services since 2006-07, according to RHC Holding website.

Yes Bank said that one aircraft is parked at Biju Patnaik International Airport while another at Hindustan Aeronautical Limited, Aircraft Overhaul Division, Nashik.

The reserve price for the first aircraft is Rs 3.05 crore and Rs 3.80 crore for the another one. The ernest money deposit (EMD) has been kept at 10 per cent of the reserve price.

“The auction process is being conducted by Yes Bank for and on behalf of the owner”, the notice said.

The prospective bidders are advised to do their independent due diligence before submitting a bid for the aircraft, Yes Bank said in the auction notice.

The interested parties may inspect the relevant documents and the aircraft at the respective locations from July 13 to July 31 between 12 noon to 5 pm with prior intimation of at least 7 days, it added.

The last date of submitting the EMD and bid is August 4 and the bids will be opened on August 5 at the bank’s Chanakyapuri office in New Delhi. MR