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Nobody wants Vijay Mallya's Kingfisher House, auction fails: reports

MOTOR-RACING-PRIX/ (File) Beleaguered liquor baron Vijay Mallya

In an unexpected development, there were no takers for the beleaguered liquor baron Vijay Mallya's Kingfisher House during an e-auction conducted by consortium led by the State Bank of India (SBI) on Thursday, said media reports.

The auction was held to recover the part of the Rs.6,963 crore debt due from the now grounded Kingfisher Airlines.

The e-auction of property with the base value at Rs 150 crore was held under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

The property, which was the headquarters of the Kingfisher Airlines was expected to draw the attention of corporate houses and retailers. However, it seemingly has failed to generate any interest.

The consortium has also taken over the Kingfisher Villa in Goa, worth around Rs.90 crore.

On Wednesday, the Central Bureau of Investigation was reportedly preparing official letters to some foreign jurisdictions to find out details of overseas properties owned by Mallya, who left the country on March 2.

As part of its ongoing probe into the Rs.900 crore IDBI Bank loan default case, the CBI is planning to approach Britain, Mauritius, Cayman Islands and France, among others, to get details and "documented evidence" about the properties owned by Mallya.

Sources said the CBI was preparing documents to approach the court to get letters of judicial requests -- called letters rogatory (LR) -- issued to foreign jurisdictions. The LRs would also seek information on Mallya's associates and the defunct Kingfisher Airlines.

(With inputs from IANS)

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