Panaji, April 18: Businessman turned actor Sachiin Joshi took the possession of Kingfisher Villa on Monday. The Villa, previously owned by liquor baron Vijay Mallya was purchased by Joshi from a consortium of banks recently. Joshi took the possession of the property after opening the gates of the villa on the afternoon.

Addressing the media, Joshi said, “It is nice to be here for the first time. I am very happy to be here. It’s a good feeling.” Sachiin Joshi, the promoter of the Viking Ventures Private Limited bought the villa for Rs 73 crore from the consortium of banks which had failed to auction it on three occasions earlier. The latest auction was held on March 6.

The villa, spread over 12,350 sq ft or three acres at Candolim (on the way to Fort Aguada), was legally owned by United Breweries Holdings, the parent company of the Kingfisher Airlines.The lenders had taken physical possession of the villa in May 2016. (Also Read: Vijay Mallya gets bail within three hours of being arrested in London)

Auctioning of the villa was the part of the lenders’ efforts to try to recover the dues of over Rs 9,000 crore from the airlines by monetising assets of the defunct carrier.

Villa may undergo a change of name

Making his formal entry into the three-acre property, Joshi said that the name of the villa will be changed soon. Hinting that no name has yet been finalised for the villa, Joshi said, “A change of name is an eventuality.”

Promising media to tell about his future plans Joshi said that the villa helps him to bring back positive feeling. “It’s a good feeling. It’s a very positive feeling and I guess it’s a mixed bag at this moment.”

(With inputs from PTI)