Kingfisher House put on block again, reserve price reduced to Rs 135 crore

Bankers, led by State Bank of India have vowed to recover their dues from the promoter Vijay Mallya, who is declared wilful defaulter by many banks.

MUMBAI: Lenders of Kingfisher Airlines have one again put on block Kingfisher House seeking at least Rs 135 crore. Last time, when banks attempted to sell the headquarters of the defunct airlines, at a reserve price of Rs 150 crore, it did not receive a single bid.

Kingfisher owes Rs 7000 crore to lenders.

Lenders have fixed August 4 as the last day for submitting electronic bid for the Kingfisher property that is located close to Mumbai’s domestic airport.

Bankers, led by State Bank of India have vowed to recover their dues from the promoter Vijay Mallya, who is declared wilful defaulter by many banks.

In the past, banks did not receive any bids for the Kingfisher brand.

Source: http://realty.economictimes.indiatimes.com/news/residential/kingfisher-house-put-on-block-again-reserve-price-reduced-to-rs-135-crore/53028195

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