Kingfisher Villa for sale soon!

Vijay Mallya’s wilful defaulting of debts worth Rs 9400 crores has taken the Indian banking industry by storm while the man himself lavishes in the heart of England, London. The banks meanwhile are scrambling to recover the dues left by the airline tycoon which has not been very good going so far as the banks have only recovered something over Rs 1,400 crore by selling shares and collaterals.

[m9ad]

A little hope has come to the bankers in the form of the Kingfisher Villa in Goa which the bankers had taken the physical possession of in the last month after a long legal battle. The process of valuation of the same has already started and the commercial value of the estate will likely be arrived at in a few days after which the lenders will put it on sale.

It will be interesting to see how this latest bid on Mallya’s property goes as the earlier efforts by the banks to sell the Kingfisher House in Mumbai had not gone well.