Here’s what Mallya will have to give up if KFA fails

If liquor baron Vijay Mallya‘s Kingfisher Airlines fails, lenders owed $1.4 billion may end up with a small stake in his spirits business, a modest office building, the carrier’s brand, and not a lot else.A $16 million beachfront villa in Goa, where Mallya throws parties and shoots his Kingfisher swimsuit calendar, is owned by his UB Holdings and pledged as collateral to State Bank of India, Kingfisher’s lead bank. But Mallya’s UB Group wants to swap the villa for another asset and says it has the right to do so.
30/07/12 First Post.com

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Categories: Kingfisher Jul 2012