Kingfisher House News
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Mallya has been declared a wilful defaulter and is wanted by Indian authorities for default in payment of loans related to Kingfisher Airlines that was grounded in 2012.
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Enforcement Directorate on Thursday took possession of Rs 100 crore farm house of Vijay Mallya in Alibag of Maharashtra in connection with its money laundering probe case.
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In order to make sale of Kingfisher House, banks are considering adopting a model followed in recent sale of the defaulter businessman Vijay Mallya posh Goa villa to recover their dues.
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After three failed auctions, banks have finally managed to sell the Kingfisher Villa in Goa belonging to the troubled businessman Vijay Mallya to a city-based actor for Rs 73 crore through a private treaty.
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Kingfisher Airlines' two prime assets, Kingfisher House in the city and Kingfisher Villa in Goa, will be auctioned on Monday by banks to recover their loans to the long-defunct airline started by defaulter businessman Vijay Mallya.
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The 17-lender consortium to the defunct Kingfisher Airlines (KFA) has once again put on block Kingfisher House in the city and Kingfisher Villa in Goa, with a 10 percent reduction in the reserve prices.
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The re-auction of embattled businessman Vijay Mallya's Goa property, Kingfisher Villa, yet again turned out to be a damp squib today despite a reduction in reserve price by 5 percent to Rs 81 crore by lenders.
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After failing for the third time to find a buyer for the Kingfisher House in the city earlier this week, the lenders are reauctioning troubled businessman Vijay Mallya's another plush property, the Kingfisher Villa on the Goan coast on Thursday.
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A consortium of 17-banks will once again be auctioning plush properties of beleaguered liquor baron Vijay Mallya - Kingfisher House in the city and Kingfisher Villa in north Goa - this week at lower reserve prices compared to the previous 3 auctions.
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The plush sea-facing Kingfisher Villa at Condolim in north Goa will once again be put up for auction on December 22 as decided by the lenders to the now defunct Kingfisher Airlines.
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The 17-lender consortium to the defunct Kingfisher Airlines has again put on sale its erstwhile headquarters, Kingfisher House, but with a 15 per cent reduction in the reserve price.
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In their second attempt at recovering a part of the dues of over Rs 9,000 crore from now defunct Kingfisher Airlines, lenders will re-auction the airlines' trademarks, including Kingfisher logo and the once-famous tag-line 'Fly the Good Times' on Thursday, but at a lower reserve price of Rs 330.03 crore.
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The auction of Kingfisher House proved a damp squib yet again Thursday as no bidder turned up for the erstwhile headquarters of Vijay Mallya-led group's long- grounded airline at a reduced reserve price of Rs 135 crore.
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The proposed auction of Kingfisher House, the erstwhile headquarters of Vijay Mallya-led group's long-grounded airline, may prove to be a damp squib yet again tomorrow as bidders have remained elusive even at a reduced reserve price of Rs 135 crore.
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As the lenders and tax authorities cool their heels for Vijay Mallya to return to India, they will put under hammer next month assets worth over Rs 700 crore of the embattled businessman's long-defunct Kingfisher Airlines.
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In another failed attempt at recovering money from beleaguered businessman Vijay Mallya through sale of his assets, a lone bidder turned up for the auction of his personal jet with a bid of Rs 1.09 crore -- less than a per cent of Rs 152 crore reserve price.
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Almost two months after it proved to be a flop show, lenders have begun a fresh valuation process of auctioning Kingfisher House, the headquarter of Vijay Mallya's now defunct Kingfisher Airlines.
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The house, which served as Kingfisher headquarters, would be sold through e-auction.
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A consortium led by the State Bank of India is likely to auction the Kingfisher House at Jogeshwari in Mumbai, in a bid to recover part of the Rs 6,963 crore debt due from the now grounded Kingfisher Airlines.
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