The State Bank of India's bad times are still not over, courtesy the king of good times — the bank's fifth attempt at auctioning off the Kingfisher House has failed
Vijay Mallya
The State Bank of India's bad times are still not over, courtesy the king of good times — the bank's fifth attempt at auctioning off the Kingfisher House has failed. The bank had taken over the Vile Parle (East) property in 2015 after Vijay Mallya had failed to repay the Rs 9,000-crore loan.
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An e-auction conducted by SBICAP Trustee Company Limited yesterday got no response. Several realtors opined that the high price quoted by the bank and the property falling in the airport funnel zone were a few reasons behind bidders shying away. While the original price of the property was Rs 150 crore, SBI has kept a sale price of Rs 93.5 crore.
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