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No takers for Mallya's Kingfisher House
By: Tupaki Desk | 17 March 2016 11:49 AM GMT
The fall of Liquor king Vijay Mallya seems to be a big lesson for all wannabe entrepreneurs. As per reports nobody has shown interest to buy Vijay Mallya's Kingfisher House that was put on e-auction on Thursday by a 17-bank consortium.
The consortium led by State Bank of India set the base price of the property at Rs 150 crores and the auction was conducted online but it proved to be a flop show with no bids coming in. The consortium took over the property in February 2015 and it was constructed a built-up area of over 17,000 sq ft.
The Kingfisher House was once the headquarters of Vijay Mallya's defunct airline. As per reports the response was very poor due to litigation fears and a high reserve price of Rs 150 crore .The auction conducted by SBI Caps for a consortium of banks led by public sector lender State Bank of India.
The 17-member consortium, which had given loans to Kingfisher Airlines, will soon have a review meeting to discuss on the matter.Vijay Mallya owes Rs 6,963 crores to the different banks. Mallya seeks time till April to appear before ED in its IDBI loan money laundering case.
The consortium led by State Bank of India set the base price of the property at Rs 150 crores and the auction was conducted online but it proved to be a flop show with no bids coming in. The consortium took over the property in February 2015 and it was constructed a built-up area of over 17,000 sq ft.
The Kingfisher House was once the headquarters of Vijay Mallya's defunct airline. As per reports the response was very poor due to litigation fears and a high reserve price of Rs 150 crore .The auction conducted by SBI Caps for a consortium of banks led by public sector lender State Bank of India.
The 17-member consortium, which had given loans to Kingfisher Airlines, will soon have a review meeting to discuss on the matter.Vijay Mallya owes Rs 6,963 crores to the different banks. Mallya seeks time till April to appear before ED in its IDBI loan money laundering case.
