Vijay Mallya's Kingfisher Villa up for auction next month

September 13, 2016 17:57

After multiple failed attempts to sell assets of Kingfisher Airlines, lenders are likely to auction the long-defunct carrier's prime property in Goa, Kingfisher Villa, next month at a reserve price of Rs 85 crore.

The lenders, led by State Bank of India, may issue a public notice for the auction of the airline's prime asset, owned by embattled businessman Vijay Mallya, in the next few days, sources said.

The property at Condolim was once used by Mallya -- who is now abroad and facing a slew of criminal charges for allegedly defaulting on loans -- to host lavish parties.

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