The Kingfisher Villa is worth about Rs 90 crore.
The government-owned State Bank of India (SBI) has seized the Kingfisher Villa of debt-strapped liquor baron Vijay Mallya in Goa.
Mallya flew to London in March, under pressure from bankers seeking to recover about nearly Rs 9,000 crore owed by his collapsed Kingfisher Airline. The Villa is worth about Rs 90 crore.
The district magistrate gave an order in favour of banks to take physical possession of the Kingfisher Villa situated at Candolim beach in Goa, which has often served as a venue for many parties hosted by him.
"The property is attached now completely. All the inventories have been done. There is no access, nobody can enter into it. Security guard and everything has been changed now. The SBI Trustee has taken complete charge of this property and the process has ended," said SBI lawyer Vikas Kumar.
So far, India has failed in its initial attempt to secure the return of Mallya from Britain but New Delhi said it would continue to seek his repatriation to face his creditors.
Recently Mallya's diplomatic passport was revoked, and a request for his deportation was rejected by the UK as allya has the right to remain in Britain.
The 60-year-old Mallya, a Formula 1 boss known as the "King of Good Times" for his party lifestyle, is the subject of a non-bailable warrant issued by a special judge in Mumbai.
The Enforcement Directorate, a government agency set up to fight financial crime, has accused Mallya's UB Group of using Rs 426 crore of bank loans to Kingfisher to buy property overseas.
Creditors, led by State Bank of India, have rejected an offer of partial repayment by Mallya, who had given a personal guarantee for the Kingfisher loan.
They have demanded that the billionaire attend a hearing in the Supreme Court.
Mallya has denied wrongdoing, calling the charges against him "preposterous". He has also offered a settlement to his creditors that they have so far refused to consider. No comment was immediately available from a Kingfisher spokesman.
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