The Hindu Business Line
Banks to re-auction Mallya assets
Two plush properties belonging to troubled businessman Vijay Mallya, Kingfisher House in the city and Kingfisher Villa in north Goa, will be re-auctioned this week by the 17-lender consortium at lower reserve prices compared to the failed previous three auctions. The reserve price for over 17,000 sqft Kingfisher House near the airport will be auctioned on Monday at ₹115 crore, which is 15 per cent lower than the failed second auction held in August, when the minimum price to sell the asset was fixed at ₹135 crore. The Kingfisher Villa at Condolim in north Goa will be put under the hammer on December 22 at a reserve price of ₹81 crore, which is 5 per cent lower than the auction held in October, when the lenders had tried to sell the sea facing property at ₹85.29 crore.