Once upon a time there was no one who was not jealous of Vijay Mallya’s life, who has always lived a life of luxury and now walks home and court to the point where everyone sees him as a sinner.
Kingfisher Airlines, headed by Vijay Mallya, escaped from the country after being defrauded of a loan taken in its name.
In this situation, the banks that are supposed to lend money to Vijay Mallya are seizing and selling his assets.
Kingfisher House of Kingfisher Airlines
The Kingfisher House building, which housed the headquarters of Kingfisher Airlines, has been auctioned off about eight times and is currently being sold for a third stake in the 9th attempt.
2016 first attempt
Kingfisher House was valued at Rs 135 crore when it was first auctioned by the bank’s board of directors in 2016. But in reality this magnificent luxury building is estimated at Rs 150 crore.
8 consecutive failures
Hyderabad-based Saturn Realters has now acquired the building for just Rs 52 crore, after the bank’s board of directors gradually reduced the price of the building at each auction due to eight consecutive failures.
Sales for Rs 52.25 crore
Through this sale, Vijay Mallya has reduced the amount of loans due to banks by Rs 52.25 crore. Kingfisher House, once very busy, is now locked without a trace.
Not only did the bank management set a high price when it sold the Kingfisher House in 2016, but no one came forward to buy it due to various restrictions. With this the bank management has sold out after about 5 years.
9000 crore loan
The government is working hard to bring back to India Vijay Mallya, the head of Kingfisher Airlines, who fled the country without repaying a Rs 9,000 crore loan and took refuge in Britain.
Bankruptcy of Vijay Mallya
A London court has ruled that Vijay Mallya is bankrupt at the end of July. This is seen as a huge success for SBI-led banks.
In a High Court hearing held by video conference in May 2021, the High Court stayed the bankruptcy petition filed on behalf of the banks. This was seen as a setback for the banks.
Vijay Mallya Indian Property
In India, Vijay Mallya stopped short of claiming assets in exchange for a loan. Meanwhile, at the request of India, the UK government recently arrested Vijay Mallya, taking the case to the next level.
UK High Court
The trial of Vijay Mallya was held in the British High Court. In this context, the British High Court ordered the freezing of Vijay Mallya’s international assets, giving good news to Indian banks.
Celebration for the banks
The bankruptcy order against Vijay Mallya has also given unconditional permission to Indian banks to freeze his assets. Thus, the banks have the opportunity to freeze the assets of Mallya and repay the loan amount given by selling it