Finally! Vijay Mallya’s Kingfisher House sold for Rs. 52 Crore in the Ninth Attempt

Businessman Vijay Mallya’s Kingfisher House at Vile Parle in Mumbai was finally sold to Hyderabad based Saturn Realtors for ₹52.25 crore in the ninth attempt by the Debt Recovery Tribunal. Kingfisher House was once the headquarters of the now defunct Kingfisher Airlines owned by Mallya, who is accused of fraud and money laundering allegedly amounting to around ₹9,000 crore.

On Monday, a court in the United Kingdom declared businessman Vijay Mallya bankrupt.

Kingfisher House, once the headquarters of the fugitive liquor baron Vijay Mallya’s Kingfisher Airlines (now defunct), was sold in the ninth attempt for almost one third of its reserve price of Rs 135 crore.

Located near the Mumbai International Airport in Santacruz, Kingfisher House was originally value at Rs 150 crore. The last auction, which was held in November 2019, failed to attract a buyer for the eighth time.

The money recovered after selling Kingfisher House will now go to the lender banks.

The Debts Recovery Tribunal (DRT) had earlier sold shares worth over Rs 5,800 crore of United Breweries Limited (UBL) that were earlier attached under the anti-money laundering law as part of an alleged bank fraud probe against Vijay Mallya.

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