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  Business   Companies  19 Dec 2016  Vijay Mallya’s Kingfisher House auction flops again

Vijay Mallya’s Kingfisher House auction flops again

DECCAN CHRONICLE
Published : Dec 19, 2016, 12:23 pm IST
Updated : Dec 19, 2016, 12:30 pm IST

This time price for Kingfisher House was reserved at Rs 115 crore, 15 per cent less than second failed auction in August.

Embattled liquor baron Vijay Mallya. (Photo: PTI)
 Embattled liquor baron Vijay Mallya. (Photo: PTI)

Mumbai: It is third time that auction for Vijay Mallya’s Kingfisher House in Mumbai saw no one turning up for bidding on Monday as the lenders accelerate the auction process to recover money loaned to the now grounded Kingfisher Airlines, CNBC-TV18 reported on Monday.

Apart from the Kingfisher House, the State bank of India-led consortium also wants to put Mallya’s Kingfisher Villa in Goa.

 

The Kingfisher Villa in Goa was mortgaged as collateral for availing the loans to the Kingfisher Airlines, NDTV reported on Sunday.

This time the price for the auction of the House was fixed at Rs 115 crore that is 15 per cent less than fixed in the second auction held in August.

The lenders also want to auction movable properties worth over Rs 15 lakh kept in Mallya’s Goa Villa. Kingfisher Airlines once run by Vijay Mallya owes over Rs 9,000 crore to consortium of banks led by the SBI.

Vijay Mallya who has failed to repay lenders and entertain several arrest warrants against him fled country on a diplomatic passport earlier this year. Mallya has also been declared a proclaimed offender by a special Prevention of Money Laundering Act Court.

 

Tags: vijay mallya, kingfisher house, kingfisher villa, auction
Location: India, Maharashtra, Mumbai (Bombay)