Mallya’s Kingfisher Villa purchased by Actor-Businessman Sachiin Joshi

, 7:49 PM IST

MUMBAI: Vijay Mallya’s Kingfisher Villa has been sold to actor and businessman Sachiin Joshi. After failing to find any bidders at multiple auctions.

Mallya’s posh Goa villa was seized by lenders after he failed to repay loans taken for the erstwhile Kingfisher Airlines. According to a report, SBI Chairman Arundhati Bhattacharya confirmed the sale but refused to name the buyer.

32-year old, Joshi have paid higher than the last reserve price of Rs 73 crore for the sea-facing villa in Candolium, Goa. Lot of buyers were hesitant to pay Rs 85 crore for it then. This led to the lenders bringing down the price of the villa to Rs 81 crore in another auction which also failed. The last auction that took place in March 2017 saw the lowest reserve price of Rs 73 crore which the actor has paid.

Joshi is the chairman of JMJ Group of Companies. He owns Viking Media and Entertainment and has acted in a few movies like Aazaan, Mumbai Mirror and Jackpot.