Submit :
News                      Photos                     Just In                     Debate Topic                     Latest News                    Articles                    Local News                    Blog Posts                     Pictures                    Reviews                    Recipes                    
  
Vijay Mallya's Kingfisher House goes under hammer for the third time, yet there are no buyers
The consortium of 17-banks, led by State Bank of India put Kingfisher House, the erstwhile headquarters of the now defunct Kingfisher Airlines up for sale for the third time on Monday.

But, even for the third time, there were no buyers, although the reserve price of the property has been cut by 15 per cent. The prime property located at the plush Vile Parle suburb of Mumbai near the domestic terminal, has a built up area of over 17,000 sq ft.

A source said, "None of the bidders came and the auction of Kingfisher House failed this time also."

The property was put up for sale with a reserve price of Rs 115 crore, which was 15 per cent less than the second auction held in August and 23 per cent lower than the first auction held in March this year. The reserve price of Kingfisher House had been originally fixed at Rs 150 crore for the first auction. But it seems that the steep price has deterred the buyers.

Business tycoon Vijay Mallya's another property, the Kingfisher Villa, located at Condolim in North Goa also goes under the hammer for the second time on December 22. The villa will go up for sale with a reserve price of Rs 81 crore, which is 5 per cent less than the first auction of the sea-facing property held in October. The lenders had originally fixed the reserve price of the villa at Rs 85.29 crore. Vijay Mallya was famous for hoisting lavish parties at this villa.

Both the properties are being auctioned by SBICap Trustee on behalf of the lenders. Interestingly, even the service tax department has been struggling to find buyers for Mallya's luxury jet in its possession. Although Mallya owes over Rs 850 crore to the department, the original value of the jet had been assessed at around Rs 150 crore.

Liquor baron Mallya who had fled the country on March 3 this year, owes over Rs 9,000 crore to lenders including SBI, PNB, IDBI Bank, Bank of Baroda, Allahabad Bank, among others. He is said to be currently residing in the United Kingdom.

COMMENTS (0)
Guest
Name
Email Id
Verification Code
Email me on reply to my comment
Email me when other CJs comment on this article
}
Sign in to set your preference
Advertisement
merinews for RTI activists


Advertisement
Not finding what you are looking for? Search here.