Vijay Mallya's Kingfisher's House is in auction with a base price fixed at Rs 150 crore. A consortium of SBI led the auction where interest buyers will bid online. Lenders are optimistic that the said e-auction will generate huge amount to suffice the amount to pay for the loans granted to Kingfisher Airlines and other debts.
Kingfisher Airlines
Breaking News
Serious Fraud Investigation Office (SFIO) has been probing on Vijay Mallya's Kingfisher Airlines and Grant Thornton India regarding the 'inflated valuation' that reached over Rs 4,000 crore. The valuation came out just as the airline company is dealing with a cash crunch with previous loans considered to be non-performing assets.
Vijay Mallya, chairman of United Breweries Holdings Limited, approached the Delhi Court on Friday for a legal representation before a panel of State Bank of India (SBI) members, where they would argue their case against being declared as willful defaulters.
Mumbai-based Kingfisher Airlines sued International Aero Engines for engine defects.
Subscribe to VCpost newsletter
Most Popular
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- How to Apply for Social Security Spousal Benefits; Here's How You May Boost Your Money!
- Walgreens to Open a New Pharmacy Offering Cell and Gene Therapies to Patients With Chronic Diseases Like Cancer
- Kroger and Albertsons to Sell off 166 Stores in Effort to Gain Approval for Their $25 Billion Merger
- Tesla Shareholder Asks Judge to Prevent Elon Musk From Moving Pay Fight to Texas to Evade Delaware Ruling
- Celebrity Designer Nancy Gonzalez Jailed for Smuggling Crocodile, Python Handbags
- Illinois Woman, Who Mysteriously Drowned After Giving $1.5 Million to Online Romance Scammers, Knew She'd 'End up Dead'
