Vijay Mallya House auctioned: The State Bank of the India-led auction for Vijay Mallya’s Kingfisher house has failed for the third time in a row since the house has no buyers despite a 15 percent cut in price i.e. a discount of Rs. 35 crore.
Vijay Mallya House has no buyers even at a discounted price
“None of the bidders came and the auction of Kingfisher House failed this time also”, a source said.
The Kingfisher house spreads through a vicinity of 17,000 sqft located at the plush Vile Parle which has been put on an auction by the SBI at a reserve price of Rs 115. The two earlier failed auctions were held in August and March earlier this year. The reserve price set for the third auction was set at a 23 percent lower price than at the first auction and a 15 percent lower price than the second auction.
The liquor baron had left the country in March this year and he is currently said to be living in Britain. His Kingfisher Airlines owes Rs 9000 crores to the Consortium of 17 banks.
Kingfisher villa was also mortgaged in March that is owned by United Breweries Holdings (UBHL). On January 5, the other assets will be auctioned worth Rs 15.72 lakh by the SBICap Trustee on lenders’ behalf.