As Vijay Mallya gears up for third marriage, has UB City in Bengaluru been auctioned?

First Published 31, Mar 2018, 6:28 PM IST
As Vijay Mallya gears up for third marriage has UB City in Bengaluru been auctioned
Highlights
  • The news of Vijay Mallya's third marriage with Pinky Lalwani is making the rounds
  • Another news of his UB City in Bengaluru being auctioned has also been making the news
  • Read on and find out which news among these two is true

As the news of Vijay Mallya's third marriage with Pinky Lalwani is making rounds, here is another shocking news that Bengaluru's UB City was auctioned more than a year ago.

The farmers of Karnataka gathered in front of the UB City and sold the Tower structure for ₹398.04 crore. Do the farmers have the right to auction the UB City, read to find out..

Farmers of the state under the banner of Karnataka Raitha Sangha and Janashakthi Sanghatane had gathered in front of the most controversial structure UB City, still technically owned by defaulter Vijay Mallya. They staged a protest and symbolically auctioned the structure.

The unique protest was held against the State Bank of India banks writing off Vijay Mallya’s ₹1,200 core loan. Farmers demanded that their loans also be waived off as they had incurred a loss due to drought this year.

ALSO READ: Pinky Lalwani: Who is fugitive Vijay Mallya's soon-to-be third wife? [Photos]

The farmers had initially gathered at the City Railway Station and had planned to conduct a protest march to the UB City. But the police arrested more than 50 farmers at the City Railway Station. However, some farmers reached the UB City and started bidding on the UB City property. Soon after the bidding process, police arrested all the farmers and lodged them at the Adugodi Police station. All the arrested protesters were released in the evening. 

The Kingfisher Tower was sold for a bid amount of ₹398.04 crore, UB One Tower was sold for a bid amount of ₹712.73 crore and the commercial place for ₹175.73 crore. Even car parking area was sold for ₹81.67 crore.

After the completion of mock auction session, the farmers urged the government to sell those premises to interested parties for the said bid amount and waive off the crop loans against the sale.

“Vijay Mallya who has taken loans amounting thousands of crores is absconding. Enforcement Directorate has decided to confiscate the entire UB city owned by Vijay Mallya. But so far no one has come forward to confiscate it,” said Nagendra, Raitha Sangha leader.

He urged the government to confiscate properties owned by Vijay Mallya, who is a defaulter of the loan and waive off crop loans of farmers.    

H V Vasu, leader of Janashakti Sanghatane had told that both state and the Centre have turned a deaf ear towards the demands of farmers and have become blind to Vijay Mallya’s defaulting.

In case Karnataka and the Centre do not take the issue up in the Assembly, we will even auction the dignity of respective leaders. They even had fixed the rates for the dignity of Prime Minister Narendra Modi, Karnataka Chief Minister Siddaramaiah and collectively opposition parties to 3 paise each.

Disclaimer:

Vijay Mallya has fooled the people of India and the banks royally. Thus on April Fool's Day, this is the least one can do in the hope of getting the defaulter back to India and make him pay off his loans. However, the timing of the news is not new (as it happened on 1 December 2016) but the news is true. Farmers have sold the UB City, but the sad part is that the King of Good Times is having a gala time in London, whereas the farmers are still waiting for their loans to be waived off.

 

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