SBI begins auction of Mallya's Kingfisher House, cars

Mumbai: State Bank of India (SBI) has begun e-auctioning of one of Vijay Mallya's flagship properties, Kingfisher House here on Thursday. 

With a motive to recover Rs 9,000 crores loaned to Mallya's grounded Kingfisher Airlines, SBICAPS Trustee, a subsidiary of SBI Caps is auctioning the property on the e-auction property platform, AuctionTiger, with base price being fixed at Rs 150 crore.

The auction is being carried out under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

The lenders took over the 17000 sq feet property, which is situated near the Chhatrapati Shivaji International Airport in February last year.

Besides, e-auction has been initiated for Mallya's nine cars including two Honda City EXi, two Toyota Camry, a Honda Civic, a Toyota Innova, a Toyota Corolla, a Hyundai Elantra and a Hyundai Santro Zip.

According to an SBI banner, bids can be submitted till April 4.