[Mumbai]Today,Not Even a Single Bid Registered For Absconding Kingfisher’s House
Kingfisher House auction ,Today,ended without a single bid
Auction of Kingfisher House, once the headquarters of Vijay Mallya’s defunct airline, proved to be a flop show today with no bids coming in, presumably due to litigation fears and a high reserve price of Rs 150 crore — dealing a blow to lenders’ efforts to recover their loans.
The auction of the property, with a built-up area of over 17,000 sq ft in Vile Parle area near domestic airport here, started at 1130 hrs and ended in about an hour with no success.
“The reserve price for Kingfisher House was set at Rs 150 crore,
As per Sources,The 17-member consortium, which had given loans to Kingfisher Airlines, will soon have a review meeting and may discuss the reserve price as well,
The online auction was held by SBICAPS Trustee, a subsidiary of SBI Caps.
The auction was conducted under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi), 2002
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