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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;
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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.
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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.
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kingfisher

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