SBI seals Mallya’s Kingfisher Villa in Goa

GOANEWS DESK, PANAJI | 13 May 2016 20:02 IST

The State Bank of India today sealed Vijay Mallya’s Kingfisher Villa at Candolim and took the possession.

The North Goa collector had passed the order in this regard after clearing the legal hurdles Mallya had created for the bank.

Mallya, who is on a run in a multi-crore money laundering fraud, had quoted Goa’s tenancy act under the Portuguese Civil Code.

He had created a property manager for his Goa villa, arguing that the property manager gets the first right to take possession.

 

However, later, Mallya withdrew its case filed before the North Goa Collector, who passed the order that bank authorities can take its possession.

Accordingly, the State Bank of India officials today sealed the bungalow.

The villa, costing around Rs 90 crore, was used by the liquor baron for throwing lavish parties for celebrities from all walks of life on different occasions. 

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