Base price of Vijay Mallya's Kingfisher House fixed at Rs 150 cr

Mumbai, March 17: Kingfisher House, one of Vijay Mallya's flagship property, went under the hammer on Thursday.

The base price of the unit at Andheri in the city's western suburbs has been fixed at Rs 150 crore.

The e-auctioning is being conducted by a wing of the State Bank of India, one of the 17 banks affected by Mallya's failure in paying back the loans. These banks are trying to recover at least a billion dollars that were lent to Mallya's grounded Kingfisher Airlines.

The auction has reportedly received at least 15 offers.

The auctioning took place a day before Mallya was summoned for questioning as part of a probe related to one of the loans.

The Enforcement Directorate reportedly said Mallya has to appear in person and cannot just send his lawyer.

The Mallya issue has rocked Parliament with the Opposition targeting the government over his 'escape'. Union Finance Minister Arun Jaitley said every penny would be reovered from Mallya, who is reportedly in the UK now and said in a tweet last week that he is not an absconder.

Oneindia News