Banks to auction Kingfisher House, Goa villa at lower prices

vijay mallya-wefornews

Mumbai, December 19

A consortium of banks led by SBI have decided to auction Kingfisher House in Mumbai and Kingfisher Villa in Goa for the fourth time at comparatively lower reserve prices.

Earlier banks have attempted three failed auctions for the same.

Two attempts this year to e-auction these mega properties collapsed as no buyer approached SBICap for Mallya’s properties.

Kingfisher House in Mumbai which was Airline’s corporate office, will be auctioned on Monday at the reserve price of Rs 115 crore. It is 15 % lower to the second time failed auction held in August at reserve price of Rs 135 crore.

Meanwhile the Kingfisher Villa in North Goa will be auctioned on Thursday, December 22 at a reserve price of Rs 81 crore. This is 5 per cent lower than the auction price set in October at Rs 85.29 crore.

Besides, the banks have also decided to auction the movable properties, including 10 cars, worth Rs 15.72 lakh kept at Kingfisher House, on January 5.

Kingfisher Villa is owned by United Breweries Holdings (UBHL) and it was mortgaged as “collateral” to Kingfisher Airlines. The Liquid baron’s Airlines owes whopping Rs 9,000 crore to the consortium of 17 banks.

Wefornews Bureau

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