MUMBAI: Vijay Mallya’s Kingfisher House is set to be auctioned again as bankers cut the reserve price by 10% to Rs 135 crore to auction the debt-laden Kingfisher Airline’s headquarters on August 4. Previous attempts to auction the Kingfisher logo, brand, taglines, other trademarks, and his private jet, have also failed to find any takers so far. Apart from the bank dues, the airline also owes Rs 350 crore to the I-T department and Rs 100 crore to the service tax department. As per information given to the SC, the total amount, including the interest and principal loan due, is about Rs 9,000 crore. Defunct since three years, Kingfisher Airlines now owes banks dues of Rs 6,963 crore at the end of January 2014, with further interest from February 2014 with expenses and costs, according to the auction notice.

Source: Hindustan Times July 03, 2016 02:15 UTC