Lenders lower reserve price of Kingfisher House to Rs 135 crore
6 July 2016 3:22 AM IST
The 17-bank consortium, led by the State Bank of India (SBI), had in March tried to sell this city-based property of liquor baron Vijay Mallya to recover part of the dues. The auction was a no-show as bidders stayed away, citing high reserve price of Rs 150 crore.
“The reserve price (for Kingfisher House) is Rs 135 crore below which the property will not be sold,” according to a public notice put up by SBI Caps, which is auctioning the property on behalf of the lenders. The property, having a built-up area of over 17,000 sq ft in the plush Vile Parle area near domestic airport, will be auctioned on August 8.
Lenders had taken over Kingfisher House in February last year under the Sarfaesi Act.The beleaguered tycoon owes over Rs 9,000 crore, which includes unpaid loans and accrued interest, to 17 banks.
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