The focus in the ongoing controversy surrounding liquor baron Vijay Mallya will now turn to the sale of Kingfisher House in Mumbai, the headquarters of his now defunct Kingfisher Airlines on Thursday.
The reserve price is ₹150 crore, but real estate advisory firms say that the bidders may quote a much lesser price for a distressed asset. The entire property stands on a 4,000-sq-m land.
The entire auction is being conducted under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi), 2002
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