State Bank Of India

In a bid to recover a part of Rs 6,963 crore debt due from the now grounded Kingfisher Airlines, the State Bank of India-led bank consortium has decided to auction Kingfisher House in Mumbai on March 17. The e-auction will be done under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

SBICAP Trustee Company, which took possession of the property last year, will do e-auction of the 2,401.70 square meter property on March 17. The Trustee Company has kept reserve price of Rs 150 crore and the bid increment amount is Rs 5 lakh. The earnest money deposit for this auction has been fixed at Rs 15 lakh.