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Vijay Mallya's House going to auctioned Online

One of Vijay Mallya's property in Mumbai, Kingfisher House, is being auctioned online today. The base price for the office at Andheri in Mumbai's western suburbs has been fixed at Rs. 150 crore.

The e-auction is being managed by an arm of the state-run State Bank of India, one of the 17 banks trying to recover at least a billion dollars loaned to Mr Mallya's grounded Kingfisher Airlines.

Vijay Mallya's House going to auctioned Online

The auction is taking place a day before Mr Mallya has been summoned for questioning as part of an investigation related to one of the bank loans. Sources in the Enforcement Directorate, which has summoned Mr Mallya, say "it has to be a personal appearance, he can't send his lawyer." 

Mr Mallya is ranked the 45th-richest Indian with a net worth of $1 billion by Forbes in March 2012. He is known to have lavish homes in Mumbai, Goa, Delhi and also London. His flamboyant lifestyle also features a fleet of luxury cars and a yacht.

Finance Minister Arun Jaitley, who was targeted by the Congress in Parliament over the tycoon's "escape", said: "Every penny from Mallya will be recovered."

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