Business

Kingfisher Airlines Chairman Vijay Mallya speaks to the media during a news conference in Mumbai in this November 15, 2011 file photo. If Indian liquor baron Mallya's Kingfisher Airlines fails, lenders owed $1.4 billion may end up with a small stake in his spirits business, a modest office building, the carrier's brand, and not a lot else. A $16 million beachfront villa in Goa, where Mallya throws parties and shoots his Kingfisher swimsuit ... more 

Kingfisher Airlines Chairman Vijay Mallya speaks to the media during a news conference in Mumbai in this November 15, 2011 file photo. If Indian liquor baron Mallya's Kingfisher Airlines fails, lenders owed $1.4 billion may end up with a small stake in his spirits business, a modest office building, the carrier's brand, and not a lot else. A $16 million beachfront villa in Goa, where Mallya throws parties and shoots his Kingfisher swimsuit calendar, is owned by his UB Holdings Ltd (UBHL) and pledged as collateral to State Bank of India (SBI), Kingfisher's lead bank. But Mallya's UB Group wants to swap the villa for another asset and says it has the right to do so. SBI is resisting. To match Analysis INDIA-KINGFISHER/ REUTERS/Vivek Prakash/Files (INDIA - Tags: BUSINESS TRANSPORT) less