Panaji, May 14 (IANS): After much delay, a legal agency appointed by a consortium of lender banks on Friday took over possession of former liqour baron Vijay Mallya's iconic Kingfisher villa in Goa's tony Candolim beach village.

Officials of the Delhi-based ARCK Consultants appointed by State Bank of India, one of the lenders to Mallya's now defunct Kingfisher Airlines, sealed the Kingfisher Villa valued at Rs. 90 crore after drawing up an inventory of goods and articles inside the palatial premises.

"The property has been attached completely. All inventories have been done. No one can now have access to the villa without out permission. The SBI has taken control. We have proceeded as per court order," Anil Kohli of ARCK consultants told reporters outside Kingfisher Villa.

He attributed the delay in taking possession of the villa to the hearing of the North Goa collector, which dragged on for two years.

Kohli also said that auctioning of the villa would take some time.

"That will take time. First there will be valuation of the premises. That will be the next step," he said.

The Kingfisher villa, once known for its larger than life parties and celebrity-studded events, is expected to earn the lending banks around Rs.90 crore from sale of the property, once the valuation and auctioning processes are completed.