No 🚫 Bidders for✈ Kingfisher House⁉️

  |   India News

One of Vijay Mallya's flagship properties🚩, Kingfisher✈ House in Mumbai, failed to get any bids on Thursday's auction. The e - auction💻 was conducted by the SBI's merchant banking arm- SBI Caps. The 2,401 sq. m property was put up at a reserve price of ₹150 crore. The high amount is stated as the reason for the ☹failure of the sale. The e-auction was organized under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002. The liquor🍾 baron owes more than ₹9000 crore to various banks and he was declared as a wilful 😒defaulter by many banks including the SBI and the United Bank of India. Meanwhile, Diageo confirmed its initial payment of 💵$40 million to Mallya after a deal worth 💵$75million was struck by the two under which Mallya should step down ⬇as United Spirits Ltd chairman. Recently, the banks had asked the debt recovery tribunal to halt🚫 the payment while they also pleaded the court to not allow him to leave the 🇮🇳country.

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