Liquor baron Vijay Mallya owes around Rs 9000 crores to 17 nationalized banks after which he flew out from the country. State Bank of India led consortium of banks have been in trials to auction Mallya’s properties in Goa, Bengaluru and Mumbai. Mallya’s Kingfisher Villa located in Goa has been famous all over and SBI was in plans to auction it. However they failed it after three attempts and the minimum sale price has been Rs 135 crores initially.
After no one coming ahead to buy it, the price has been reduced to Rs 85.29 crores but it lacked buyers. Now Kingfisher Villa will be auctioned on December 22nd and the reserve price has been decided as Rs 81 crores. Besides his properties, movables worth Rs 15.72 lakhs will also be auctioned. Vijay Mallya’s 10 cars too will be auctioned revealed SBI. Mallya is currently residing in Britain.