NEW DELHI/MUMBAI: Nobody wanted to bid for loans defaulter Vijay Mallya’s Kingfisher House.
The Mumbai property was put on e-auction on Thursday by a 17-bank consortium that the former ‘King of Good Times’ owes Rs 6,963 crores to.
The base price for the property was set at Rs 150 crores and the auction was conducted online. The consortium is led by the State Bank of India.
The Vile Parle building, with a built-up area of over 17,000 sq ft, was auctioned by SBICAPS Trustee, a subsidiary of SBI Caps.
The consortium took over the property in February 2015.
Kingfisher Airlines was grounded in late 2012 as it was burdened with huge losses and liabilities, including to the lenders.
While lenders have stepped up their efforts to recover the dues totalling over Rs 9,000 crores, the founder and main promoter Mallya left the country earlier this month.
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