Hubballi: King of Good Times is facing bad times, but for a businessman from Hubballi its ‘Ula la la le yo’ all the way.

Hanumantha Reddy, a Hubballi based businessman has purchased two cars of liquor baron Vijay Mallya at Rs 1.58 lakh through an online auction.

A 2002 made Hyndai Sonata bearing registration number MH 01 DA 7227 and a 2003 make Hyundai Accord 2.4 AT bearing registration number MH 01 DA 1235 are now priced possession of Reddy.

While the cost of the two cars, when Mallya purchased them was about Rs 53 lakhs. Reddy bought them for Rs 40,000 and Rs one Lakh respectively, while the remaining amount went as taxes.

The two cars were put on online auctioning by United Spirits Company in January after the liquor baron failed to repay the loans taken from various banks. Hanumantha, who has a hobby of collecting second hand cars, bid for the car online purchased it in May. Now they have been delivered to him. While one of the cars came from Bengaluru, the second car was delivered to him from Mumbai stated DHNS

It is said that Reddy has a beeline of purchasers wanting to buy the cars from him.

He said people are ready to pay Rs 2.5 lakh for the Hyundai Sonata, which is golden colour and the second car is currently fetching him Rs 4.5 lakh. However, he has not yet made up his mind to sell these cars.