Lenders to Kingfisher Airlines have taken possession of Kingfisher House, the airline’s headquarters near Mumbai airport, after the guarantors —  chairman Vijay Mallya and United Breweries (Holdings) Ltd —  failed to pay the dues.

The lenders had issued notice to the guarantors on May 3 to pay the dues of Rs 6,027 crore.

Acting for the lenders, SBICAP Trustee Company Ltd took control of the 2,401.7-sq-m property on August 10 as per report in Business Standard.

A senior public sector executive said the move was part of the recovery process. “The headquarters of the airline is tangible property which, when sold, could get part of our money back,” the executive pointed out.

Early this year, the lenders had sold shares of United Spirits and Mangalore Chemicals & Fertilizers, kept as collateral, to partly recover the dues.

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