Mumbai, Nov 20 (TIWN) The Kingfisher House -- the erstwhile headquarters of the defunct Kingfisher Airlines Ltd. (KAL) - owned by absconding liquor baron Vijay Mallya, will be up for auction again. The 8th time in barely three years.

The Debts Recovery Tribunal (DRT), Bengaluru, has announced a new auction date of November 27 through an online bidding process, for the beleaguered property.

From the original reserve price of Rs 135 crore during the first auction of the property -- valued at around Rs 150 crore in 2016 -- for the 8th auction this time, the reserve price is fixed at a staggeringly low of just Rs 54 crore, a sharp drop of 60 per cent.