<p>E-auction for beleaguered businessman Vijay Mallya's Kingfisher House closed as lenders failed to get any bids on Thursday.<br /><br />Lenders to long-grounded Kingfisher Airlines today morning began auctioning the KFA headquarters - Kingfisher House - situated near the domestic airport here.<br /><br />The property, with a built-up area of over 17,000 sq ft in Vile Parle area, is being auctioned by SBICAPS Trustee, a subsidiary of SBI Caps through an e-auction.<br /><br />The auction is being conducted on e-auction property platform, AuctionTiger.<br />The base price for the property has been set at Rs 150 crore.</p>.<p><br />The auction is being conducted under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi), 2002.<br /><br />The property was taken over in February 2015 by a consortium of 17 banks lead by State Bank of India in a bid to recover Rs 9,000 crore loan given to the airlines.<br />Burdened under huge losses and liabilities, including to the lenders, the airline was grounded in late 2012.</p>.<p><br />While lenders have stepped up their efforts to recover dues totalling over Rs 9,000 crore, the founder and main promoter Mallya left the country earlier this month.<br /><br />Recently, the Enforcement Directorate registered a money laundering case against Mallya and others based on a CBI FIR registered last year.<br /><br />The agency is also investigating the overall financial structure of Kingfisher Airlines and will look into any payment of kickbacks.<br /><br />Kingfisher Airlines faces a probe by the Serious Fraud Investigation Office (SFIO) into its allegedly 'inflated' brand valuation of over Rs 4,000 crore.<br /><br />The government's white-collar fraud detection agency is probing whether such a high valuation was arrived at fraudulently to get more funds from banks and siphon off the additional money for purposes other than proposed investment in the airline.</p>
<p>E-auction for beleaguered businessman Vijay Mallya's Kingfisher House closed as lenders failed to get any bids on Thursday.<br /><br />Lenders to long-grounded Kingfisher Airlines today morning began auctioning the KFA headquarters - Kingfisher House - situated near the domestic airport here.<br /><br />The property, with a built-up area of over 17,000 sq ft in Vile Parle area, is being auctioned by SBICAPS Trustee, a subsidiary of SBI Caps through an e-auction.<br /><br />The auction is being conducted on e-auction property platform, AuctionTiger.<br />The base price for the property has been set at Rs 150 crore.</p>.<p><br />The auction is being conducted under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi), 2002.<br /><br />The property was taken over in February 2015 by a consortium of 17 banks lead by State Bank of India in a bid to recover Rs 9,000 crore loan given to the airlines.<br />Burdened under huge losses and liabilities, including to the lenders, the airline was grounded in late 2012.</p>.<p><br />While lenders have stepped up their efforts to recover dues totalling over Rs 9,000 crore, the founder and main promoter Mallya left the country earlier this month.<br /><br />Recently, the Enforcement Directorate registered a money laundering case against Mallya and others based on a CBI FIR registered last year.<br /><br />The agency is also investigating the overall financial structure of Kingfisher Airlines and will look into any payment of kickbacks.<br /><br />Kingfisher Airlines faces a probe by the Serious Fraud Investigation Office (SFIO) into its allegedly 'inflated' brand valuation of over Rs 4,000 crore.<br /><br />The government's white-collar fraud detection agency is probing whether such a high valuation was arrived at fraudulently to get more funds from banks and siphon off the additional money for purposes other than proposed investment in the airline.</p>