Vijay Mallya's Mumbai house to be auctioned today
The base price for the property has been pegged at Rs. 150 crore.
The e-auction is being conducted by an arm of the State Bank as part of the drive to recover at least a billion dollars loaned to Mallya's grounded Kingfisher Airlines.
Mallya is under pressure to repay over Rs. 6,000 crore loaned to Kingfisher Airlines, which stopped operating in 2013.
Some banks, including the state-owned State Bank and the United Bank of India, have declared Mallya a wilful defaulter.
The banks had asked the Supreme Court to stop Mallya from travelling abroad but the government told the court that he had left the country on March 2.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
