Sunday, March 05, 2017

Lenders To Auction Two Kingfisher Airlines Properties On Monday

Mumbai: Kingfisher Airlines' two prime assets, Kingfisher House in the city and Kingfisher Villa in Goa, will be auctioned tomorrow by banks to recover their loans to the long-defunct airline started by defaulter businessman Vijay Mallya.

While Kingfisher House will be put under the hammer for the fourth time after three failed attempts, Kingfisher Villa is being put on sale for the third time.

The reserve prices for both the properties owned by Mallya have been lowered after the earlier attempts of the 17-lender consortium failed to attract bidders.

The SBI-led consortium has reduced the reserve price of the erstwhile headquarters of the grounded airline, Kingfisher House, by 10 per cent to Rs. 103.50 crore as compared to that of Rs. 115 crore for the previous auction held last December.

In the first auction of Kingfisher House last March, the reserve price was set at Rs. 150 crore but was lowered to Rs. 135 crore in the second auction held in August as none of the bidders came forward to buy the property.

The prime property has a built-up area of over 17,000 sq ft and is located in the plush Vile Parle area near the domestic terminal.

Similarly, the reserve price of Kingfisher Villa, the plush property situated at Condolim in north Goa is set at Rs. 73 crore, which is around 10 per cent down than the second auction held last December.
05/03/17 PTI/NDTV