Kingfisher House in Mumbai that was the earlier headquarter of the now obsolete Kingfisher Airlines Ltd was founded by businessman Vijay Mallya, currently a fugitive. The property has been sold to Saturn Realtors, based in Hyderabad at nearly one-third of its reserve price of Rs 135 cr at Rs 52.25 cr, state reports.
Placed in Santacruz near the Chhatrapati Shivaji Maharaj International Airport, the 2401.70 square metres property was unable to draw a buyer during the auction in November 2019 for the eighth time, claimed accounts. Originally assessed at Rs 150 cr, a Debt Recovery Tribunal (DRT) sold it this time around.
Stamp duty of Rs 2.612 cr was paid by Saturn Realtors to the state government for the same. It is claimed that the deal was recorded on July 31.
According to reports, the money earned from the sale will be given to the lenders. Additionally, Rs 7,250 cr has been recovered earlier through the various auctions of shares of Vijay Mallya.
It is said that the airlines have debts worth Rs 10,000 crore to an association of banks in India which is said to be headed by the State Bank of India (SBI).
In 2019, Mallya was proclaimed as a fugitive economic offender in India and is facing an extradition process in the UK.
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