Sachin Joshi to rename Vijay Mallya’s Kingfisher villa

The villa, when previously owned by Mallya, hosted some of the most extravagant parties, before the flamboyant baron who owes banks thousands of crores of rupees fled the country.

After three failed auctions, banks have finally managed to sell Vijay Mallya's iconic Kingfisher villa in Goa to actor-producer Sachin Joshi for Rs 73 crore. However, the villa which is located in North Goa's Candolim beach village may undergo a name change. The sale of the villa finally took off earlier this week after three failed auctions, the last being on March 6.

While speaking to media, Joshi said that change of name was an eventuality, but he also hinted that no new name has been finalised for the villa.

"Eventually it should, but there is no plan as such as of now. I have not yet finalised any name as such," Joshi said.

The villa, when owned by Mallya, hosted some of the most extravagant parties, before the flamboyant baron who owes banks thousands of crores of rupees fled the country.

Mallya was declared a wilful defaulter and is wanted by authorities for default in payment for loans related to Kingfisher Airlines that was grounded in 2012. He owes over Rs 9,000 crore to lenders like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others. He left the country on March 3 last year and is currently said to be in Britain and his extradition talks are on.

OneIndia News (with inputs from agencies)