SBI Finds No Takers for Online Auction of Kingfisher House
No bidders for the Kingfisher House auction; base price of Rs 150 crore proves too costly.
State Bank of India has found no bidders for the online auction of Kingfisher House in Mumbai. New dates for the auction will be out soon.
The public sector lender put up the defunct headquarter of the grounded Kingfisher Airlines in Mumbai – popularly known as Kingfisher House – up for auction on Thursday. The auction was part of SBI’s attempt to recover over Rs 1,600 crore in dues from the airline’s promoter Vijay Mallya, under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi), 2002.
An article in The Indian Express had earlier pointed out that the auction could turn out to be a damp squib.
The base price of the property was set at Rs 150 crore, which obviously proved a bit too pricey for potential bidders.
SBICAP Trustee Company, a wholly-owned subsidiary of SBI Capital Markets (SBI Cap), in a public notice last month announced e-auction of the property, situated near the Chhatrapati Shivaji International Airport.
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