Union Bank to Auction DSK Benelli, Hyosung and Keeway Bikes in India

Union Bank of India has decided to e-auction around 43 bikes along with the manufacturing plant of DSK Benelli and DSK Hyosung that are under the jurisdiction of the bank.

The story started with the partnership of Italian company Benelli, South Korean conglomerate Hyosung and the Indian company DSK Motowheels. The partnership started back in October 2014. But the Indian business conglomerate DSK Motowheels got bankrupted due to its real estate entity. This bankruptcy marked the end of its partnership with Hyosung and Benelli.

It was Mahavir Group that stepped into the shoes of DSK Benelli, and Kinetic MotoRoyale took over the ownership of DSK Hyosung. Mahavir Group made a few changes like shifting the headquarters from Pune to Hyderabad.

Around 43 Benelli, Hyosung and Keeway bikes under DSK ownership are still under the possession of the Union Bank of India for which they have announced an online auction scheduled on 26th July 2019 from 11 am to 4 pm. It is interesting to know for all the bike lovers that the auction also contains models that were never retailed in India. The bank will e-auction the 125cc and 150cc scooters along with 150cc bikes by Benelli, a list of Keeway bikes can also be seen like Keeway Blackster cruiser and others along with Hyosung’s GV250 Aquila and GD250R.

The list also has models that have been spied tested in India like the quarter-litre Benelli Zafferano 250 scooter and the MotoBi 250 Patagonian Eagle cruiser motorcycle. The Benelli TNT 135 monkey bike is also on offer. The rest of the models are ordinary suspects that are dominated by the Benelli TNT 600s and Hyosung 250s.

A fixed price has been issued by the bank in the list that also has a 10 per cent EMD or Earnest Money Deposit which is like a precaution taken by the bank so that buyers do not place any dummy bids for which an initial deposit has to be done by the bidder. The models that are being sold in the auction range from INR 70,000 to approximately INR 7.57 lakhs.

Movable assets at the plant like spares and furniture are priced at Rs 2,80,00,000. The list of the products has been issued under the provisions of Section 13(4) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Buyers should also note that the sale does not come with any warranty or indemnity. Here is the list of some of the tempting deals on Hyosung, Benelli, and Keeway motorcycles.

Union Bank e-Auction

DSK Hyosung Bikes

• GD250 – INR 1,30,000
• GV250N – INR 1,90,000
• GT250 – INR 1,95,000
• GT250 EFI – INR 2,10,000
• GD250R – INR 2,10,000
• Exiv 250 – INR 2,10,000
• Aquila 250 – INR 4,12,000

DSK Benelli Bikes

• RKS 150 – INR 70,000
• TNT 135 – INR 1,05,000
• TNT 150 – INR 1,38,000
• Zafferano 250 – INR 1,54,000
• TNT 600 – INR 1,83,000-INR 4,69,000
• TNT 300 – INR 2,12,000
• Trek Amazonas 1130 – INR 7,57,000

DSK Keeway Bikes

• 202 Sports Bike (Red) – INR 85,000
• 202 Sports Bike (Black) – INR 91,000
• 250 Patagonian Eagle – INR 1,88,000
• Blackster Cruiser – INR 1,90,000
• 250 Dorado Cruiser – INR 1,99,000

Source