Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

Portfolio

Loading...
Select Portfolio and Asset Combination for Display on Market Band
Select Portfolio
Select Asset Class
Show More
Download ET MARKETS APP

Get ET Markets in your own language

DOWNLOAD THE APP NOW

+91

CHOOSE LANGUAGE

ENG

  • ENG - English
  • HIN - हिन्दी
  • GUJ - ગુજરાતી
  • MAR - मराठी
  • BEN - বাংলা
  • KAN - ಕನ್ನಡ
  • ORI - ଓଡିଆ
  • TEL - తెలుగు
  • TAM - தமிழ்
Drag according to your convenience
ET NOW RADIO
ET NOW
TIMES NOW

Sebi to auction properties of 4 companies

PTI|
Oct 12, 2018, 03.53 PM IST
0Comments
Sebi-BCCL-1200
The reserve price of these properties amounts to Rs 4.74 crore.
New Delhi: Sebi will auction as many as six properties of four companies, including Swar Agrotech and Life Care Infratech, next month at a reserve price totalling Rs 5 crore as the market regulator looks to recover investors' money.

Properties of Servehit Housing and Infrastructure India as well as Raghav Capital and Infrastructure will also go under the hammer.

The auction of these land parcels spread across Uttar Pradesh and Haryana will be conducted on November 11, Sebi said in a notice issued on Friday.

Out of the six properties being put on the block, two each belong to Swar Agrotech India and Life Care Infratech; and one each of Raghav Capital and Servehit Housing.

The reserve price of these properties amounts to Rs 4.74 crore.

The move is part of an effort by the Securities and Exchange Board of India (Sebi) to recover money that these companies had illegally mobilised from people.

Swar Agrotech, Raghav Capital, Servehit Housing had mobilised funds from the public through Collective Investment Scheme (CIS), without getting regulatory approvals, while Life Care Infratech had raised funds from investors through issuance of securities without complying with the public issue norms.

The regulator has engaged SBI Capital Markets to assist it for sale of these properties through e-auction platform.

The interested candidates can inspect the properties on during November 12-16, Sebi said, adding that 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.
0Comments

Also Read

ITI files FPO papers with Sebi

T and T Infra files IPO papers with Sebi

Sebi to discuss stricter norms for fiduciaries

Sebi may make it easier to start up on bourses

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Loading
Please wait...