Mumbai/Goa: Liquor baron Vijay Mallya's sprawling villa in Goa is once again caught in a tug-of-war between creditors and his now-defunct Kingfisher Airlines.
On Friday, SBICAP Trustee Company announced that it took possession of the sprawling three-acre Kingfisher Villa at Condolim, Goa on October 30. The notice came after Kingfisher Airlines failed to pay Rs 6,027 crore to the firm. The guarantors to the loan are United Breweries (Holdings) and Mallya himself.
Immediately, Mallya's legal team moved the senior civil judge 'A' court, Mapusa, on Friday. The court ordered the creditors to maintain status quo and restrained them from "dispossessing" or "interfering" with the property.
04/11/13 Nauzer Bharucha & Joseph Zuzarte/Times of India
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On Friday, SBICAP Trustee Company announced that it took possession of the sprawling three-acre Kingfisher Villa at Condolim, Goa on October 30. The notice came after Kingfisher Airlines failed to pay Rs 6,027 crore to the firm. The guarantors to the loan are United Breweries (Holdings) and Mallya himself.
Immediately, Mallya's legal team moved the senior civil judge 'A' court, Mapusa, on Friday. The court ordered the creditors to maintain status quo and restrained them from "dispossessing" or "interfering" with the property.
04/11/13 Nauzer Bharucha & Joseph Zuzarte/Times of India
