After several failed attempts liquor baron Vijay Mallya's prime property, Kingfisher Villa in Goa has finally found its buyer.
In order to recover loans allocated to Vijay Mallya, banks were trying to sell his bungalow for past few months but failed to find any buyer.
In the fourth attempt to sell the Kingfisher Villa, a State Bank of India-led group of lenders has finally sold Liquor baron's prime property to Bollywood actor and businessman Sachin Joshi.
Sachiin Joshi has featured in several Bollywood movies including Sunny Leone starter Jackpot. Joshi paid slightly more than the property's previous reserve price of Rs 73 crore.
The Bungalow is located in Goa's Candolim and had become famous for the parties that the liquor baron Mallya threw at the villa
King of good times, Vijay Mallya was declared absconder by the govt after he failed to pay back his loans and fled to the UK.
Mallya owes over Rs 9000 crore to banks and has been declared as wilful defaulter after Kingfisher Airlines was grounded in 2012.
Banks are also trying to sell Mallya's Kingfisher House located in Mumbai but as of now, no date has been finalised for its auction.