Businessman-cum-actor Sachiin Joshi on Monday took possession of Kingfisher Villa, earlier owned by troubled liquor baron Vijay Mallya, which he had purchased from a consortium of banks recently.
Joshi, the promoter of the Viking Ventures Private Limited, took possession of the sprawling property after opening the gates of the villa in afternoon.
"It is nice to be here for the first time. I am very happy to be here. It's a good feeling," Joshi told the media.
Joshi, who is based in Mumbai, had purchased the villa for Rs 73 crore from the consortium of banks which had failed to auction it on three occasions earlier. The latest auction was held on March 6.
The villa, spread over 12,350 sq ft or three acres at Candolim (on the way to Fort Aguada), was legally owned by United Breweries Holdings, the parent company of the Kingfisher Airlines.
The lenders had taken physical possession of the villa in May 2016.
Auctioning off the villa was the part of the lenders' efforts to try to recover the dues of over Rs 9,000 crore from the airlines by monetising assets of the defunct carrier.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.