Vijayakanth's house, college properties to be auctioned

Chennai: Properties worth about Rs 100 crore owned by actor-turned politician A. Vijayakanth, his wife V. Premalatha and his educational trust has been put on auction by the Indian Overseas Bank (IOB) for non-payment of a Rs 5.52 crore loan.

The loan was availed by actor's Andal Azhagar Educational Trust and Vijayakanth and Premalatha were the sureties, providing their properties as security to the bank.

According to the IOB's public notice, the properties would be auctioned off on July 26.

The minimum price of the Trust's property at Mamandur in Kanchipuram district is fixed at about Rs 92 crore, the residential property of Vijayakanth here is at about Rs 4.25 crore and his vacant residential plot here is fixed at about Rs 3.04 crore.