No bidder turns up for Vijay Mallya's Goa Kingfisher Villa

MUMBAI: The 17-lender consortium led by State Bank of India failed to find a buyer for the plush sea-facing Kingfisher Villa in Goa, sources said. This marks another failed attempt by lenders to recover dues of over Rs 9000 crore from beleaguered liquor baron Vijay Mallya.

"It's a no show again, we will auction it once again may be at a lower reserve price," a banker said on the condition of anonymity. Bankers said they had received interest from six potential investors including several hospitality groups.

The reserve price for the property was set at Rs 85.29 crore and is spread across 12350 square metre.

Lenders had taken the possession of the villa in May this year after a protracted legal battle with United Spirits over tenancy rights.

Lenders had opened the villa for inspection to interested bidders in two slots--September 26-27 and October 5-6.

In the four days during which the property was thrown open, around half-a-dozen entities had visited the palatial villa.

Vijay Mallya owes over Rs 9,000 crore to lenders like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others.

He had left the country in March and is currently said to be in Britain, having defied several court orders to return to India.

The lenders efforts at selling other KFA properties including a luxe private jet and brand kingfisher as well the Kingfisher House in Mumbai all met with repeated failures.