Vijay Mallya's liquor stock up for auction

Liquor from Vijay Mallya's palatial house Kingfisher Villa, Goa, amounting to Rs 78.45 lakh is being auctioned. A sale proclamation has been put up by the Central government's Department of Financial Services Debt Recovery Tribunal, Karnataka. In addition, a theatre worth Rs 23.48 lakh is also up for auction, as is Mallya's Ferrari for Rs 29.75 lakh and a Pajero for Rs 4.67 lakh.

The auction will be an e-auction, and will be held on July 15 from 11 am to 3 pm. There are a total of 24 items up for the auction, of which the most expensive is his stock of alcohol. The total price of all the 24 items is Rs 2.3 crore.

According to Rupesh Daga, of SBI's stressed management department, Bangalore, the properties can be bought on individual basis, and anybody from India can participate in the auction. "We have put details of every item on the website, and all of it can be accessed. There is no hard and fast rule that one has to buy all the items. They can buy as many they want to," he said.

The total amount that Kingfisher Airlines Limited and others owe are Rs 6,203 crore, and only last month, the bank had a failed attempt at selling Kingfisher House, a property in Mumbai's Vile Parle area, owned by Mallya and his company.

The other properties that are being auctioned include, Chandeliers and electrical luminaries which are being sold at Rs 6.20 lakh. A music system for Rs 44,013. Two de-humidifiers for Rs 1.08 lakh, two bottle freezers have been put at Rs 75,200. They have even put phones and accessories up on sale and it will cost Rs 8,500. Air conditions will cost Rs 14.28 lakh, and trumble drier will be sold at Rs 18.64 lakh.

All of these properties are in Goa and are open for inspection after the prospective buyer pay the earnest money deposit.