No takers for Mallya’s Goa Kingfisher Villa
MUMBAI: Goa’s plush Kingfisher Villa, where Vijay Mallya has hosted several glitzy parties in the past, failed to attract a single bidder at an e-auction on Wednesday — marking yet another failed attempt by lenders to recover dues from the embattled businessman.
While repeated attempts have been made without any success for sale of several other assets kept as collaterals by erstwhile Kingfisher Airlines of the Mallya-led UB Group, the famed villa was put under hammer for the first time.
However, the auction turned out to be a damp squib, supposedly due to its high reserve price at `85.3 crore, sources said.
The 12,350 sq mt villa was once used by Mallya to host lavish parties in his ‘good times’.
“None of the bidders came forward, so the auction of Kingfisher Villa failed. Higher reserve price could be the reason,” a source said.
The sea-facing palatial villa, situated in Candolim, Goa had earlier attracted interest from at least half a dozen players in the hospitality industry and a media group.
Mallya owes over `9,000 crore to lenders like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others.
He had left the country in March and is currently said to be in Britain, having defied several court orders to return to India.