Lenders cut reserve prices of KFA properties for March 6 auction

Mumbai: The 17-lender consortium to the defunct Kingfisher Airlines (KFA) has once again put on block Kingfisher House in the city and Kingfisher Villa in Goa, with a 10 per cent reduction in the reserve prices.

The auctions of prime assets of troubled businessman Vijay Mallya are schedule for March 6, SBICAPS Trustee, which is auctioning the properties on behalf of the lenders, said in a public notice today.

While the Kingfisher House is being auctioned for the fourth time, the Kingfisher Villa is being put on sale for the third time.

The reserve price of the erstwhile headquarters of the grounded airline, Kingfisher House, is set at Rs 103.50 crore, 10 per cent lower than the third failed auction held last December when the reserve price was kept at Rs 115 crore.

In the first auction of the Kingfisher House last March, the reserve price was set at Rs 150 crore and in second one in August, it was fixed at Rs 135 crore.

The prime property has a built-up area of over 17,000 sq ft and is located in the plush Vile Parle area near the domestic terminal.

The lenders have kept reserve price of the Kingfisher Villa, the plush property situated at Condolim in north Goa at Rs 73 crore, which is around 10 per cent down than the second auction held last December.

In the December auction, the reserve price of the sea- facing property was set at Rs 81 crore. It was put under the hammer for the first time last October with a reserve price of Rs 85.29 crore.

The Villa was once used by Mallya to host lavish parties.

Mallya owes over Rs 9,000 crore to lenders like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others. He left the country on March 3 last year and is currently said to be in Britain.