Vijay Mallya who still has to pay 9000 Crores as debts absconded and went to London. And today one of his Mumbai property was put up for auction by State Bank of India. Buyers were expected to bid for the 17,000 sq.feet Kingfisher House and the starting price was said as 150 Crores.


The auction will take place till April 6th. SBI has just initiated the auction to recover Rs.7000 Crores which was got as debt by Mallya. The property is located near domestic airport in Mumbai and the house is also being e-auctioned by SBICAPS Trustee which is a subsidiary of SBI Caps.


The base price was put up at 150 Crores and today there have been no takers. SBI took this possession of the property as the debts were not paid.


It has to be noted that they already sold shares of Kingfisher airlines for Rs.550 Crores in 2013. This auction also includes movable assets like office furniture and fittings, air-conditioners and other items in the Kingfisher House.


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