• The much publicised "sale" of Kingfisher Villa and Kingfisher House are factually incorrect. Kingfisher Villa is owned by United Breweries Holdings and was offered as security to Axis Bank whose loan was incorporated into the lenders consortium. United Breweries Holdings has voluntarily applied to the consortium in February for permission to replace the security value of Kingfisher Villa with equivalent cash. As far as Kingfisher House is concerned, this property is now vacant following the move to The Qube. This property is intended for sale and, once again, the consortium was voluntarily approached for permission to sell with the proceeds being paid to the banks.

distributed by