SBICAP Trustee Company Ltd, an arm of the State Bank of India, one of the major lenders to Kingfisher Airlines ((KFA), which took possession of Kingfisher House in Mumbai on August 10, has put the property up for auction.
KFA House is the headquarters of the airline in Mumbai and the sale of the property will be used to repay loans of close to Rs 6,027.42 crore owed to SBI. SBICAP is yet to take possession of KFA Villa in Goa.
The indirect tax department has hinted that Vijay Mallya, owner of the grounded Kingfisher Airlines, may face prosecution in a service tax evasion case. "Prosecution is definitely a provision in the Act. And that decision of taking action on Kingfisher owner for not paying service tax arrears will be taken by the concerned commissioner," Lipika Majumdar Roy Chowdhury, member, Central Board of Excise and Customs said.
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