Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Roy Tan owes the bank S$54.8 million and Sanjay Kumar Rai S$59.8 million
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[SINGAPORE] The directors of Autobahn Rent A Car have been declared bankrupt, having racked up a combined debt of more than S$100 million owed to DBS.
According to the Government Gazette published on Friday (Apr 17), a bankruptcy order was made against Tan Boon Kee on Apr 9. A separate edition of the Gazette published in March stated that a bankruptcy order was made against Sanjay Kumar Rai on Feb 26.
DBS filed the bankruptcy application after serving statutory demands to the two in December 2025. The case was heard on Feb 26, together with a related case brought against Rai. Court documents from that date showed that Tan, also known as Roy Tan, owes the bank S$54.8 million and Rai S$59.8 million.
Several other creditors supported the application, including auto financing company Teck Wei Credit, HL Bank and Toyota Financial Services. They stated that Tan owed them various amounts, mostly in relation to guarantees for car loans.
Teck Wei Credit said that it was owed S$74.2 million and Toyota Financial Services S$43.1 million.
Tan and Rai were joint and several guarantors for banking facilities offered to private-hire car (PHC) rental company Autobahn and related companies, which in this case included Hamilton Autohub, Hamilton Autobahn and Hamilton Capital, among others.
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Last year, it was revealed that Autobahn and a group of 18 linked companies owed numerous creditors, which include the three local banks DBS, OCBC and UOB, more than S$300 million. A significant amount of this debt was accrued in the expansion of the group’s PHC fleet of around 1,700 cars. Tan and Rai are directors and shareholders in most of these companies.
The trustees for both Tan and Rai’s estate are Leow Quek Shiong and Seah Roh Lin of BDO Advisory.
The Autobahn case has roiled the PHC and rental car industry with the collapse of a high-profile player, hundreds of millions of dollars in debt, and charges of forgery.
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The two directors of Autobahn Rent A Car were charged with forgery in January for attempting to cheat Hyundai dealer Komoco Motors with falsified receipts. Tan also received an additional forgery charge involving Toyota dealer Borneo Motors. Tan and Rai were granted bail of S$500,000 and S$300,000, respectively, on Feb 13.
Autobahn and its related companies – which includes car-sharing service Shariot – suspended their business after they failed to obtain creditor protection in December 2025, after news of the debt surfaced.
DBS was represented by a team from Rajah & Tann Singapore consisting of Chua Beng Chye, Foung Han Peow, Gracia Goh and Cherie Tan Shu Ying. Tan was represented by Derek Kang of Cairnhill Law, and Rai was represented by Clarence Lun of Fervent Chambers.
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