Name: Mumbai: Kingfisher House to be auctioned as SBICAP takes possession
Uploaded: 2013-08-12T09:24:34+05:30
Description: The sale of the property will be used to repay loans of close to Rs 6,027.42 crore that the airline owes to the SBI.

GiveWingsToYourSavings 

Live Blog

Mumbai: In another setback for Kingfisher Airlines Chairman Vijay Mallya, the Kingfisher Airlines House in Mumbai will now be auctioned. The State Bank of India, which is a lender to the airlines, took possession of the Kingfisher House on Saturday. 
 
KFA House is the headquarters of the airline in Mumbai and the sale of the property will be used to repay loans of close to Rs 6,027.42 crore that the airline owes to the SBI. The Kingfisher Villa in Goa could be next, but the SBICAP is yet to take its possession. 
 
The indirect tax department has hinted that Vijay Mallya, owner of the grounded Kingfisher Airlines, may face prosecution in a service tax evasion case. "Prosecution is definitely a provision in the Act. And that decision of taking action on Kingfisher owner for not paying service tax arrears will be taken by the concerned commissioner," Lipika Majumdar Roy Chowdhury, member, Central Board of Excise and Customs said. 
 
The SBI had said the consortium of lenders is making all efforts to recover the remaining dues from beleaguered Kingfisher Airlines. The consortium of 17 banks, led by SBI, had an outstanding of over Rs 7,000 crore from the carrier. It has shares of listed entities like United Spirits as collaterals which should realise Rs 500 crore. 
 
(With additional information from PTI)

Mumbai: Kingfisher House to be auctioned as SBICAP takes possession

Business

Sunny Leone Makes Jaws Drop With Sensuous Photo In Black Monokini, Check Out Her Hot And Sexy Swimwear Looks

Alia Bhatt Looks Gorgeous In Purple Swimsuit In Latest Makeup-free Selfie, See Her Hottest Beach Style Moments

Uorfi Javed Steps Out In Head-to-Toe Blue Outfit, Check Out The Diva's Most Unusual Fashion Outings

Alia Bhatt, Malaika Arora, Bipasha Basu, Gulshan Devaiah, Mouni Roy Among Celebrities Spotted Out And About

Tamannaah Bhatia Is A Vision To Behold In Oversized Pantsuit, Check Out The Diva's Sexy Pictures

Bloody Daddy Screening: Shahid Kapoor, Mrunal Thakur, Rakul Preet Singh, Imtiaz Ali, Neelima Azeem Attend

Kriti Sanon Looks Charming In Brown Saree For Adipurush Trailer Launch, Check Out Her Stunning Pictures

Malaika Arora, Alia Bhatt, Katrina Kaif, Esha Gupta And Other Divas Show How To Wear Florals This Summer, See Their Pics

The sale of the property will be used to repay loans of close to Rs 6,027.42 crore that the airline owes to the SBI.

https://www.news18.com/business/rbi-monetary-policy-live-june-2023-repo-8018863.html

https://www.news18.com/business/markets/stock-market-updates-sensex-up-200-pts-nifty-above-18650-key-points-for-invetors-8017801.html

https://www.news18.com/business/gold-rate-today-mumbai-22-carat-10-gram-india-8017921.html

https://www.news18.com/business/tax/itr-filing-how-long-does-it-take-to-get-income-tax-refund-a-step-by-step-guide-to-check-status-8018329.html

https://www.news18.com/business/markets/ivan-menezes-jonnie-walker-spirits-maker-diageos-indian-origin-ceo-passes-away-8019175.html

https://www.news18.com/world/elon-musk-is-worlds-richest-person-once-again-as-shares-of-bernard-arnaults-lvmh-fall-7970887.html

https://www.news18.com/business/tcs-vs-infosys-vs-wipro-vs-hcl-tech-a-complete-comparison-of-employee-strength-attrition-7694551.html

https://www.news18.com/business/markets/britannia-declares-interim-dividend-at-rs-72share-record-date-other-key-things-to-know-7468471.html

https://www.news18.com/business/tata-consultancy-services-tcs-new-ceo-k-krithivasan-rajesh-gopinathan-7344127.html

Mumbai: Kingfisher House to be auctioned as SBICAP takes possession

TRENDING VIDEOS

TRENDING PHOTOS