Motorcycles from Benelli, Hyosung and Keeway along with movable assets under the possession of Union Bank of India are up for auction on July 26
DSK Motowheels and Benelli announced the end of their partnership in July 2018 after beginning their journey back in October 2014 in India. During their reign, Benelli became one of the recognisable premium bike manufacturers. But, DSK Motowheels endured bankruptcy due to its real estate entity leading to the termination of the relationship with the Italian brand.
Mahavir Group stepped in to replace DSK Motowheels and shifted the headquarters from Pune to Hyderabad while the early customers were vowed of retaining the same service treatment across the country.
However, a handful number of Benelli and Hyosung bikes under DSK Motowheels and Benelli’s regime are under the custody of Union Bank of India. The auction will be hosted online at bankauctions.com on the coming 26th scheduled from 11 am to 4 pm as a major step to recover the existing dues.
Totally, 47 bikes in possession of the bank will be auctioned online and looking at what they are told a whole different story. Rumours circulating the internet regarding the arrival of Keeway brand had been there for long and the about-to-be-auctioned bikes include some of its models as well as others that were never on sale locally.
The Keeway Dorado 250, Blackster, RKS 150 Sport and 202 alongside Hyosung 250 Exiv and Hyosung GV250 Aquila will be part of the auction. The list comprises of several units of Benelli TNT 600 and Hyosung 250 while the previously tested motorcycles such as the MotoBi 250 Patagonian Eagle and Zafferano scooter from Benelli can also be found.
The long-anticipated TNT 135 and a single example of the Trek Amazonas will be subjected to the auction process. The bike prices range from Rs. 70,000 and the reserve price for all the motorcycles is listed with 10 per cent EMD while the bid incremental amount will be decided at Rs. 2,000.
Apart from the Benelli, Hyosung and Keeway motorcycles, assembly line, furniture, spares, machines and the plant are also up for grabs in the auction and they are listed at EMD Rs. 2.8 crore.
The movable assets are in possession of Union Bank of India under Section 13(4) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002.