Kingfisher Villa Vijay Mallya

Formerly owned by liquor baron Vijay Mallya, the iconic Kingfisher villa in North Goa's upscale Candolim beach village may undergo a name change.

Actor-businessman Sachiin Joshi bought the Kingfisher Villa for Rs. 73 crore in an auction conducted by the consortium of banks

A luxurious beach front villa in Goa owned by absconding liquor baron Vijay Mallya has been sold to Bollywood and South Indian film actor Sachiin Joshi, by a group of banks led by State Bank of India, official sources said in Mumbai on Saturday.

Goa's Kingfisher Villa was among the assets pledged to take loans for Vijay Mallya's now-defunct Kingfisher Airlines.

Kingfisher House, the erstwhile headquarters of the airline, was put under the hammer at a reserve price of Rs 103.5 crore while the same for Villa in Goa was Rs 73 crore.

While Kingfisher House will be put under the hammer for the fourth time after three failed attempts, Kingfisher Villa is being put on sale for the third time.

The lenders have kept reserve price of the Kingfisher Villa, the plush property situated at Condolim in north Goa at Rs 73 crore, which is around 10 per cent down than the second auction held last December.

Mallya owes over Rs 9,000 crore to lenders like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others.

The Service Tax Department has failed twice to get any bidders for a luxury jet, owned by Mallya, which is in its possession.

Kingfisher House, in the city failed for the third time as none of buyers showed interest despite a 15 per cent cut in reserve price.

In the coming week, a State Bank of India (SBI)-led consortium of banks will again auction Kingfisher House here and the Kingfisher Villa in Goa, once owned by industrialist Vijay Mallya, at lower reserve prices compared to the three failed previous auctions.

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.

Lenders to the defunct Kingfisher Airlines have decided to again put up for auction on December 22 the plush sea-facing Kingfisher Villa at Candolim in north Goa at a marginal discount of 5 per cent to the last reserve price.

The villa was owned by United Breweries Holdings, one of the Vijay Mallya group companies, and mortgaged by the now-grounded Kingfisher Airlines (KFA) to the consortium of banks to secure loans in 2010.

Goa's plush Kingfisher Villa, where liquor baron Vijay Mallya hosted glitzy parties in past, failed to attract a single bidder at an e-auction today. The auction was held by a consortium of 17 banks led by the SBI, which had taken over the villa after the businessman failed to return the Rs 9,000 crore he owes them.

Formerly owned by liquor baron Vijay Mallya, the iconic Kingfisher villa in North Goa's upscale Candolim beach village may undergo a name change.

Actor-businessman Sachiin Joshi bought the Kingfisher Villa for Rs. 73 crore in an auction conducted by the consortium of banks

A luxurious beach front villa in Goa owned by absconding liquor baron Vijay Mallya has been sold to Bollywood and South Indian film actor Sachiin Joshi, by a group of banks led by State Bank of India, official sources said in Mumbai on Saturday.

Goa's Kingfisher Villa was among the assets pledged to take loans for Vijay Mallya's now-defunct Kingfisher Airlines.

Kingfisher House, the erstwhile headquarters of the airline, was put under the hammer at a reserve price of Rs 103.5 crore while the same for Villa in Goa was Rs 73 crore.

While Kingfisher House will be put under the hammer for the fourth time after three failed attempts, Kingfisher Villa is being put on sale for the third time.

The lenders have kept reserve price of the Kingfisher Villa, the plush property situated at Condolim in north Goa at Rs 73 crore, which is around 10 per cent down than the second auction held last December.

Mallya owes over Rs 9,000 crore to lenders like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others.

The Service Tax Department has failed twice to get any bidders for a luxury jet, owned by Mallya, which is in its possession.

Kingfisher House, in the city failed for the third time as none of buyers showed interest despite a 15 per cent cut in reserve price.

In the coming week, a State Bank of India (SBI)-led consortium of banks will again auction Kingfisher House here and the Kingfisher Villa in Goa, once owned by industrialist Vijay Mallya, at lower reserve prices compared to the three failed previous auctions.

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.

Lenders to the defunct Kingfisher Airlines have decided to again put up for auction on December 22 the plush sea-facing Kingfisher Villa at Candolim in north Goa at a marginal discount of 5 per cent to the last reserve price.

The villa was owned by United Breweries Holdings, one of the Vijay Mallya group companies, and mortgaged by the now-grounded Kingfisher Airlines (KFA) to the consortium of banks to secure loans in 2010.

Goa's plush Kingfisher Villa, where liquor baron Vijay Mallya hosted glitzy parties in past, failed to attract a single bidder at an e-auction today. The auction was held by a consortium of 17 banks led by the SBI, which had taken over the villa after the businessman failed to return the Rs 9,000 crore he owes them.