Thursday, June 01, 2017

Vijay Mallya’s Kingfisher House goes unsold for fifth time

For the fifth time, bankers failed to auction Kingfisher House, the erstwhile headquarters of Vijay Mallya-owned and now defunct Kingfisher Airlines, despite a 38 percent drop in its reserve price since it was first auctioned.

The 17-lender consortium led by State Bank of India had lowered the reserve price of the property by 10 percent to Rs 93.50 crore from Rs 103.50 crore in the previous auction held in March. In December, the reserve price was set at Rs 115 crore.

Lenders had first tried to auction the property in March 2016 with a reserve price of Rs 150 crore and later in August at Rs 135 crore.

"There were lot of enquires for the property from buyers but none of them deposited the bids in today's auction," a banker told PTI.