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Mallya assets to go under hammer for Rs 700 crore

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.

Mallya assets to go under hammer for Rs 700 crore
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Vijay Mallya

Mumbai

“The items waiting for the right bidders are plenty – the erstwhile headquarters Kingfisher House near airport here; cars and office furniture; Mallya’s plush personal jet along with everything inside that include cushy couches and even a bathrobe; Kingfisher Villa in Goa famous for parties hosted by Mallya; and numerous brands and trademarks including the famed ‘Fly with Good Times’.

This would be the second try by the lenders and tax authorities at auction of these assets as part of their efforts to recover thousands of crores worth outstanding dues, after the earlier attempt for each of these properties proved to be a damp squib.

Mallya’s personal jet is being put under hammer by the service tax department, while other properties will be auctioned by the lenders whose dues from long-grounded Kingfisher Airlines have ballooned to over Rs 9,000 crore including penal interest.

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