SBI takes charge of Mallya’s Kingfisher Villa in Goa


Panji. SBI Cap Trustee Company Limited took possession of former liquor tycoon Vijay Mallya’s Goa villa, who is in debt of more than 9,000 crore. It is taken over under SARFAESI Act.

SBI Cap asked the Collector of North Goa to acquire the property of Mallya who dragged it for 2 years and finally granted permission last Wednesday.

Officials of the Delhi-based ARCK Consultants appointed by SBI who is one of the lender of Malliya’s defunct Kingfisher Airlines, sealed the Villa of value Rs 90 crore including the inventory of good and objects inside the premises.

SBI has also taken the possession of Kingfisher Airlines of Mumbai. However the auction was a fail due to the high reserve price of Rs 150 crore by the bank.

SBI has already announced Vijay Mallya and his company United Beverage as willful defaulters. Now bank has its eyes on the iconic bungalows of Mumbai and Bangalore. But the Kingfisher Villa of Goa is believed to be the most expensive.

Banks have recovered over Rs 1240 crore till now after selling the shares and collaterals and around Rs1200 crore is being blocked by the banks in escrow accounts of Debt Recovery Tribunal, Bangalore and the Karnataka High Court. Mallya stated to the Supreme Court last month that he can pay up to Rs6800 out of the total debt of over Rs 9430.