Did someone pay Rs 936 crore to bank on behalf of Vijay Mallya?

May 20, 2016, 06:56 IST | Varun Singh

Has someone paid Rs 936 crore to the State Bank of India (SBI) on behalf of Vijay Mallya?


Vijay Mallya

While the bank is yet to issue an official statement, a closer look at yesterday’s notice — issued after it took over the Rs 90-crore Kingfisher Villa in Goa last week — states the amount due is Rs 6,027 crore.

Surprisingly, a notice issued by SBICAP Trustee Company Ltd on March 29 read that the amount due was Rs 6,963 crore and with further interest. SBICAP is leading the consortium of banks that loaned Mallya the said amount.

At the time of going to the press, all attempts seeking clarification from the bank whether it was a printing error or if it actually received the speculated amount remained unsuccessful.

About the property
The 12,350 sq m villa, which is located in the busy Candolim-Calangute tourism hub, is built like a Chinese mansion with pavilions and gardens. After you get past the gate, there is the main ground-plus-one entrance building with a garage of sports cars on one side. Moving further, there are huge pavilions, bungalows and a sprawling lawn with a swimming pool. The gardens and lawns lead to the beachfront where there are some luxurious shack-style pavilions on the beach for Mallya to relax with his guests.

Did you know?
As per various reports, as of January 31, 2014, Kingfisher Airlines owes banks R6,963 cr. All the banks have classified their loans as non-performing assets (NPAs). Several reports also claim that Mallya owes SBI Rs 1,600 crore.

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