Mallya’s home to be auctioned

May 26 2013

Industrialist Vijay Mallya’s troubles just don’t seem to end. It is worth remembering that Mallya owes more than Rs 7,000 crore to 18 India banks. State Bank of India has started the process of selling shares of Mallya’s companies. Mallya has property in several countries in the world and in India alone, he has 26 such properties that are in prime locations. Several banks have got processes in place so as to auction these properties. But there are two places that are extremely close to Mallya’s heart. One of them is his bungalow in Mumbai and the Kingfisher Villa in Goa. Mallya has held close to 1,000 parties for his friends in the villa in Goa. Several Indians with deep pockets who have been invited to these parties are now eyeing the properties.

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