Sebi to auction assets of 4 cos
image for illustrative purpose
New Delhi: Capital markets regulator Sebi on Thursday said it will auction 9 properties belonging to four companies -- Infinity Realcon, Bharat Krishi Samriddhi Industries, Ravi Kiran Realty India and Sunheaven Agro India -- on March 13 to recover investors' money.
These companies had raised funds from investors without complying with regulatory norms. The nine properties to be auctioned include land parcels and a multi-storied building, situated across West Bengal. The total reserve price of these properties is pegged at Rs 3 crore, the Securities and Exchange Board of India (Sebi) said in a notice.
Inviting bids, Sebi said auction of the properties will be conducted through online mode on March 13 during 10.30 am to 12.30 pm. Of the 9 properties to go under the hammer, 4 belongs to Bharat Krishi Samriddhi Industries, 3 relate to Infinity Realcon and one each of Sunheaven Agro India and Ravi Kiran Reality India. The regulator said the bidders should make their own independent enquiries regarding the encumbrances, title of properties put on auction and claims, among others, prior to submitting their bids.
