Kingfisher Owner Vijay Mallya On Back-foot, Bank To Sell His Property

Kingfisher Airlines is again in news for all its wrong reasons. Earlier in the day a big blow was given to Kingfisher Chairman Vijay Mallya from the banks!

Vijay Mallya

As per media reports the major banks including the State Bank of India have decided to sell off some of Kingfisher’s assets to recovery the debt from Mallya’s ailing airlines. The assets include Kingfisher House in Mumbai and Vijay Mallya’s Villa in Goa.

The banks aim to recover approximately Rs 135 crore from the sale of these properties.

However Kingfisher has denied these reports.

In their official statement to CNN-IBN its said, “Following misleading and factually incorrect reports appearing in a section of the press, Kingfisher Airlines Ltd would like to clarify that it is patently wrong and false to claim or state that banks have started recovery proceedings after a meeting of the consortium of bankers today.”

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