Vijay Mallya’s Kingfisher Villa sold off to actor-businessman Sachin Joshi

Actor-businessman Sachin Joshi has purchased disgraced tycoon Vijay Mallya’s Kingfisher Villa. The ‘Jackpot’ actor reportedly brought the luxurious property in Goa for Rs 73.01 crore, marginally higher than its reserved price.

The property was seized by a State Bank of India-led group after Mallya failed to repay the loans he took for his now-defunct Kingfisher Airlines. It was put up for auction priced at Rs 86 crores initially, but was reduced to Rs 81 crore as no bidder came forward, but still the result remained same. It was again reduced to Rs 73 crore.  

Finally, after three failed attempts, the bank made another attempt on March 6 and the villa was finally sold off to Sachin, whose production company Viiking Media and Entertainment brought the property at a marginally higher price of Rs 73.01 crores. SBI chairperson Arundhati Bhattacharya confirmed the sale, according to a report in The Times of India.

Sachin, who has starred in films like ‘Aazaan’, ‘Veerappan’ and Sunny Leone starrer ‘Jackpot’, besides a few Telugu films, is the vice-chairman of JMJ Group of Companies which holds diverse business interests. He is married to Bollywood actress Urvashi Sharma of ‘Naqaab’ fame.

The luxurious Kingfisher Villa is located off Candolim beach in Goa and was famous for Mallya’s lavish parties which he used to host frequently. Mallya owes more than Rs 9000 crore to lenders, and he has been declared as a wilful defaulter after his Kingfisher Airlines was grounded in 2012.