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PUNE: In a significant recovery action, the Asset Recovery Branch, Pune , has announced a public auction of 32 premium two-wheelers , including Benelli motorcycles, Hyosung superbikes, and premium scooters , that were repossessed from M/s. Diya Motowheels Pvt. Ltd. and associated guarantors following a loan default.
The auction forms part of an ongoing effort to recover outstanding dues of ₹32,71,11,812 (₹32.71 crore) as of December 31, 2025 , along with applicable interest, charges, and legal expenses. The seized vehicles are currently under the physical possession of the recovery authorities and will be offered for sale through a public bidding process.
The upcoming vehicle auction in Pune is expected to attract interest from registered recycling and vehicle disposal facilities, especially given the inclusion of several premium motorcycle models from internationally recognized brands.
NOTICE
Authorities have clarified that all 32 vehicles will be sold strictly on an “As Is Where Is” and “As Is What Is” basis . This means successful bidders will acquire the vehicles in their present physical and legal condition without any guarantee regarding functionality, documentation, or future usability.
Interested participants are advised to inspect the assets carefully before submitting bids.
The official schedule released by the recovery branch outlines the following key dates:
Bidders are encouraged to complete documentation and deposit requirements well before the submission deadline.
The auction inventory has been divided into three categories based on vehicle type and brand.
| Vehicle Category | Number of Lots | Reserve Price per Vehicle | EMD Required (10%) |
|---|---|---|---|
| Premium Hyosung Motorcycles | 13 | ₹91,080 | ₹9,108 |
| Sports Benelli Motorcycles | 9 | ₹81,250 | ₹8,125 |
| Gearless Benelli Scooters | 10 | ₹71,580 | ₹7,158 |
The listed reserve prices represent the minimum bid amount for each vehicle, while the Earnest Money Deposit (EMD) must be submitted before participation in the auction.
One of the most important conditions attached to this Hyosung motorcycle sale and Benelli bikes auction is the eligibility requirement imposed under the latest vehicle recycling regulations.
According to the auction notice, participation is restricted exclusively to Registered Vehicle Scrappers recognized under the Motor Vehicle (Registration and Functions of Vehicle Scrapping Facility) Rules, 2022 .
Every bidder must furnish a valid registration certificate issued under the applicable rules. Failure to provide the required documentation will result in disqualification from the bidding process.
This condition effectively limits participation to licensed recycling and scrapping entities rather than individual motorcycle enthusiasts or general buyers.
The auction follows recovery proceedings initiated against M/s. Diya Motowheels Pvt. Ltd. , along with guarantors Mr. Shrish Deepak Kulkarni and Mr. Deepak Shrish Kulkarni .
Authorities are using the sale of the seized assets to partially recover outstanding liabilities arising from the defaulted loan account. Similar recovery auctions have become increasingly common across India as financial institutions intensify efforts to reduce non-performing assets and recover dues through asset liquidation.
Eligible bidders seeking additional information regarding inspection, documentation, or auction procedures may contact:
Authorized Official: Mr. Gopal T. M. (Branch Manager)
Mobile: 8437024555
Email: [email protected]
The auction process is being managed through the recovery office located on Jangali Maharaj Road, Pune .
