KFA crisis: Banks to sell Mallya's villa, assets

CNN-IBN | Jul 05, 2012 at 01:53pm


New Delhi: In a major blow to the cash-strapped Kingfisher Airlines, banks on Thursday reportedly decided to launch their debt recovery process against the ailing company. Sources said that the bankers had decided to sell off Kingfisher's non-core assets that include Kingfisher House in Mumbai and a villa belonging to the airline's chief, Vijay Mallya, in Goa.

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