After the shocking revelation that loan defaulter Vijay Mallya has already left the country with 7,000 crore INR still not recovered and Diageo has already paid him more than 50% of the United Spirits settlement money, the consortium of banks proceeded to seize 9 Kingfisher Airlines related trademarks. A move that brand consultant Harish Bijoor termed as knee-jerk reaction. The banks are obviously hoping to recover some of the loan money by selling off the trademarks. Meanwhile Vijay Mallya was spotted in his Hertfordshire villa near London.
“Kingfisher”, “Fly the Good Times” and “Flying Models” are among the trademarks seized. According the Mr. Bijoor, the trademarks carry little value and may not fetch the kind of revenue banks are expecting. “Who would ever want to run with a label called Kingfisher Airlines?” questioned Mr. Bijoor. Vijay Mallya still has considerable stake in United Breweries, the maker of Kingfisher Beer.