Vijay Mallya‘s famous Kingfisher Villa has been sold to actor-businessman Sachiin Joshi, after failing to find any bidder lenders agreed to give the property to him through a negotiated sale. Joshi is understood to have paid marginally higher than the last reserve price of Rs 73 crore.
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Sachiin Joshi is the vice chairman of JMJ group, who owns Viking Media and Entertainment, has starred in Hindi movies including Aazaan, Mumbai Mirror and Jackpot. The reserve amount of 85 crores did not attract any bidder, again in December, they held the bid again with coming down to 81 crores but again with no success. The last auction took place in March 2017 when with a lower reserve price of Rs 73 crore.