These two non-core assets have come into focus after a meeting of 17 lenders, who Kingfisher owes around Rs 7,000 crore. Bankers said that HDFC has been appointed to carry out an assessment of these two properties. The two-story corporate office is located near the domestic terminal, while the vast Villa Kingfisher is next to Fort Aguada in north Goa.
"Kingfisher House has been lying vacant after the staff moved into our new offices at The Qube in Mumbai, and at the same time, in our own will, we approached the banks with a proposal to liquidate this asset without use and at today's meeting, raised the question of this pending approval, "a Kingfisher spokesperson said in a statement sent by email.
However, a subsequent SMS Kingfisher said it has approached the consortium to remove KF KF Villa Goa and Mumbai Home security package against payment of the total value assigned to these assets. He added that banks had asked the airline to liquidate any assets.
The warranty combined with lenders as of November 2011 included the allocation of the Kingfisher brand, valued at 4,111,000 rupees rupees (according to an April 2010 Grant Thornton report), Kingfisher House in Mumbai, which was valued at R 81.6 million rupees, Kingfisher Villa Goa amount of R 36 million rupees and the mortgage of two helicopters at a value of R 90.22 million rupees. Besides these, there are other values that include guarantees of United Breweries and Vijay Mallya.
At Thursday's meeting with lenders, Kingfisher officials discussed the possibility of direct foreign investment is allowed in aviation, which he said would pave the way to bring foreign investors in the airline. But lenders said there was no viable new proposal management. At the same time, the bankers said they were not interested in making recovery procedures as this would bring operations to a halt, which is why attention is now focused on the non-essential assets. Although lenders have values liquor business is not sufficient to cover the entire debt.
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