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Fugitive Indian businessman Vijay Mallya's Kingfisher House in Mumbai was sold for Rs 52.25 crore to Hyderabad-based realty firm Saturn Realtors.&nbsp;
According to the reports from&nbsp;Times of India, the sale has taken place at a fraction of the original asking price after the lender failed to find a buyer despite holding multiple auctions across several years.&nbsp;
The building includes a basement, a ground floor, an upper-ground floor and an upper floor, measuring a total of 1,586 square meters. It is housed on a 2,402-sq-mtr plot.
Mallya has been declared a wilful defaulter and is wanted by Indian authorities for default in payment of loans related to Kingfisher Airlines that was grounded in 2012.&nbsp;
&nbsp;

Vijay Mallya's Kingfisher House in Mumbai sold for ₹52 crore

Sold! Kingfisher House in mumbai gets auctioned for Rs 52 cr vs orignal&nbsp;asking price of Rs 135 cr as lenders start fire sale of Mallya's&nbsp;assets.&nbsp;

Vijay Mallya's Kingfisher house sold for ₹52 crore

Vijay Mallya&rsquo;s Kingfisher House in Mumbai sold for ₹52&nbsp;crore
House has been sold at almost 1/3rd of its reserve price of ₹135 crore
The building has a total built up space of 17,074 sq ft
Mallya has been declared defaulter for default in payment of loans

<h2 class="article_desc">Vijay Mallya has been declared a wilful defaulter and is wanted by Indian authorities for default in payment of loans related to Kingfisher Airlines that was grounded in 2012.</h2>

Bad boy billionaire&nbsp;Vijay Mallya's pad in Mumbai&nbsp;called the&nbsp;Kingfisher House&nbsp;was sold for Rs 52.25 crore to Hyderabad-based realty firm Saturn Realtors.&nbsp; The building includes a basement, a ground floor, an upper-ground floor and an upper floor, measuring a total of 1,586 square meters. It is housed on a 2,402-sq-mtr plot.
As per reports the sale has at Rs 52 cr is a third of the original reserve price of&nbsp; Rs 135 cr set in 2016 for the auction. The drop in price was due to the fact that the&nbsp;lenders failed to find a buyer despite holding multiple auctions across several years.&nbsp;
In June, a consortium of 11 banks led by SBI that gave Mallya loans had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate.The special PMLA court in Mumbai allowed the restoration of properties worth Rs 5000&nbsp;crore to banks.
Mallya has been declared a wilful defaulter and is wanted by Indian authorities for default in payment of loans related to Kingfisher Airlines that was grounded in 2012.&nbsp;
&nbsp;

With reports of IDBI Bank fully recovering its dues from now-defunct&nbsp;Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money.
Posting on twitter a clipping of a news item that reported that IDBI Bank has recovered its entire dues totalling Rs 753 crore from the airlines, Mallya said, "And the Banks say I owe them money!".
His tweet comes after a British court on Monday granted a bankruptcy order against him, paving the way for a consortium of Indian banks led by the&nbsp;State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by Kingfisher Airlines.
&nbsp;

Bad Boy Billionaire bankrupt but has not lost his sense of humour! Mallya mocks banks on twitter

Mallya vs Banks

Mallya, who fled to the UK in March 2016, is wanted in India over a default of Rs 9,000 crore that was loaned to Kingfisher Airlines (KFA) by several banks.

With reports of IDBI Bank fully recovering its dues from now-defunct&nbsp;Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money.
Posting on twitter a clipping of a news item that reported that IDBI Bank has recovered its entire dues totalling Rs 753 crore from the airlines, Mallya said, "And the Banks say I owe them money!".
His tweet comes after a British court on Monday granted a bankruptcy order against him, paving the way for a consortium of Indian banks led by the&nbsp;State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by Kingfisher Airlines.
&nbsp;

"We are being offered peanuts" that's the reaction coming in from upset Jet Airways employees as payout for claims under the the revival plan are less than 5 percent of what is actually owed.&nbsp;With only Rs 52 cr earmarked for employees in the resolution vs claims of&nbsp;Rs 1,265 crore&nbsp;the new consortium is looking to pay only Rs 23,000 per employee vs claims which range between 3 lakhs to 85 lakhs.&nbsp;
With the approval of the National Company Law Tribunal (NCLT) to the resolution plan of Kalrock-Jalan consortium, the Insolvency Resolution Process (CIRP) of&nbsp;Jet Airways&nbsp;has already concluded.Now the employees have 90 days to accept or go into a long legal battle to counter the claims being offered.&nbsp;
&nbsp;

Jet employees claim hopes see a crash landing; Rs 3 lakh owed vs being paid Rs 23,000

Find out why Jet Airways employees feel jilted by&nbsp;by the new owners of the airlines.&nbsp;

Jet Airways 

<h1 class="headline">Only Rs 52 cr earmarked for employees in the resolution vs claims of&nbsp;Rs 1,265 crore.&nbsp;</h1>

"We are being offered peanuts" that's the reaction coming in from upset Jet Airways employees as payout for claims under the the revival plan are less than 5 percent of what is actually owed.&nbsp; With only Rs 52 cr earmarked for employees in the resolution vs claims of&nbsp;Rs 1,265 crore&nbsp;the new consortium is looking to pay only Rs 23,000 per employee vs claims which range between 3 lakhs to 85 lakhs.&nbsp;
With the approval of the National Company Law Tribunal (NCLT) to the resolution plan of Kalrock-Jalan consortium, the Insolvency Resolution Process (CIRP) of&nbsp;Jet Airways&nbsp;has already concluded.Now the employees have 90 days to accept or go into a long legal battle to counter the claims being offered.&nbsp;
&nbsp;

Bankruptcy resolution court NCLT has approved the plan which allows Jet Airways to fly again. India's oldest private airline Jet Airways' insolvency plan as proposed by the consortium of&nbsp;Kalrock Capital and entrepreneur Murari Lal Jalan.NCLT&nbsp;has given aviation regulator&nbsp;DGCA, Aviation Ministry given 90 days from June 22 to allot slots to Jet Airways.Jet Airways was grounded in April 2019 after a shortage funds, after which an SBI-led consortium referred it to the NCLT for resolution under the insolvency and bankruptcy code.

Jet Airways to fly again, NCLT gives nod to resolution

Get ready to book yourself on a Jet Airways flight, the bankruptcy tribunal NCLT has given the nod for the grounded Jet to take off again.&nbsp;

Bankruptcy resolution tribunal&nbsp;NCLT has approved the plan which allows Jet Airways to fly again. India's oldest private airline Jet Airways' insolvency plan as proposed by the consortium of&nbsp;Kalrock Capital and entrepreneur Murari Lal Jalan. NCLT&nbsp;has given aviation regulator&nbsp;DGCA, Aviation Ministry given 90 days from June 22 to allot slots to Jet Airways. Jet Airways was grounded in April 2019 after a shortage funds, after which an SBI-led consortium referred it to the NCLT for resolution under the insolvency and bankruptcy code.

RBI has banned DHFL&nbsp;from taking any loans, the deposit-taking status of the bankrupt&nbsp;Dewan Housing Finance (DHFL) has been revoked ahead of a&nbsp;final nod to Piramal&nbsp;Group for takeover.&nbsp;DHFL&nbsp;is the first financial firm to go bankrupt and the NCLT's&nbsp;Mumbai&nbsp;bench has ordered a take over by&nbsp;Piramal Capital &amp; Housing Finance for Rs 35,250 cr leading to a hit of over 65% for lenders. The order also specifies that&nbsp;DHFL&nbsp;is&nbsp;no longer is a deposit taking NBFC but a non-deposit taking one.More than 55,000 retail and institutional investors hold Rs 5,375 crore worth of fixed deposits in DHFL.

RBI bans DHFL from taking deposits from customers, revokes status

RBI has banned bankrupt&nbsp;DHFL&nbsp;from taking any deposits even after the&nbsp;Piramal&nbsp;resolution.&nbsp;

<ul>
<li>RBI&nbsp;bans DHFL&nbsp;from taking deposits&nbsp;</li>
<li>RBI&nbsp;revokes&nbsp;deposit-taking status of DHFL</li>
<li>DHFL&nbsp;NCLT&nbsp;order: Piramal's&nbsp;to acquire firm for Rs 35,250 cr</li>
<li>DHFL&nbsp;lenders to take a 65% haircut&nbsp;</li>
<li>DHFL&nbsp;first financial firm to go bankrupt&nbsp;</li>
<li>DHFL&nbsp;now a non-deposit taking NBFC&nbsp;</li>
</ul>

RBI has banned DHFL&nbsp;from taking any loans, the deposit-taking status of the bankrupt&nbsp;Dewan Housing Finance (DHFL) has been revoked ahead of a&nbsp;final nod to Piramal&nbsp;Group for takeover.&nbsp; DHFL&nbsp;is the first financial firm to go bankrupt and the NCLT's&nbsp;Mumbai&nbsp;bench has ordered a take over by&nbsp;Piramal Capital &amp; Housing Finance for Rs 35,250 cr leading to a hit of over 65% for lenders. The order also specifies that&nbsp;DHFL&nbsp;is&nbsp;no longer is a deposit taking NBFC but a non-deposit taking one. More than 55,000 retail and institutional investors hold Rs 5,375 crore worth of fixed deposits in DHFL.

Bankruptcy could be on the&nbsp;menu for Coffee Day Enterprises which has disclosed outstanding debt of Rs 280 cr in an exchange filing. Worries are brewing as it has&nbsp;defaulted on loans in the quarter gone by due to a liquidity crisis as per reports.&nbsp;
Sources have told Business Standard that&nbsp;lenders to Coffee Day Enterprises are considering sending the company to the National Company Law Tribunal due delayed payments on loans.&nbsp;

Cafe Coffee Day bankrupt? Troubles brew as debt soars

Bankruptcy could be on the&nbsp;menu for Coffee Day Enterprises as lenders contemplate sending the company to&nbsp;National Company Law Tribunal due delayed payments on loans.&nbsp;

Bankruptcy could be on the&nbsp;menu for Coffee Day Enterprises which has disclosed outstanding debt of Rs 280 cr in an exchange filing. Worries are brewing as it has&nbsp;defaulted on loans in the quarter gone by due to a liquidity crisis as per reports.&nbsp;
Sources have told Business Standard that&nbsp;lenders to Coffee Day Enterprises are considering sending the company to the National Company Law Tribunal due delayed payments on loans.&nbsp;

bankruptcy

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