Sebi to Auction Properties of Saradha Group of Companies on December 16

Markets regulator Sebi on Thursday mentioned it has covered up 3 homes of Saradha Staff of Firms for an public sale on December 16, at a reserve worth of Rs 5.21 crore. The transfer is a part of Sebi’s efforts to recuperate cash raised by way of the corporate from the general public via illicit schemes.

In a understand, the Securities and Alternate Board of India (Sebi) mentioned the public sale might be performed between 11 am to twelve pm on December 16, 2022. The homes to head beneath the hammer come with land parcels positioned in West Bengal.

The whole reserve worth of those homes is pegged at about Rs 5.21 crore and the regulator has appointed C1 India because the e-auction supplier. On-line registration and e-auction might be performed via Quikr Realty.

The Calcutta Top Court docket had handed an order in June, wherein it directed Sebi to continue with the public sale of the homes of Saradha Staff of Firms.

All of the workout used to be directed by way of the Top Court docket to be finished inside 3 months.

Saradha Staff of Firms, a consortium of over 239 personal corporations, allegedly ran chit fund operations in West Bengal, Assam and Odisha and mopped up Rs 4,000 crore from 1.7 million depositors earlier than it collapsed in April 2013.

As in keeping with the attention, the regulator mentioned bidders must make their very own unbiased enquiries in regards to the encumbrances, litigations, attachments and acquisition of liabilities of the valuables placed on public sale, previous to filing their bid.

“The buyer shall take part within the e-auction on his personal behalf and no 3rd birthday party intervention, like licensed agent/consultant, can be accredited. The a success bidder shall endure the costs/ charge payable for switch of the valuables in his/her identify. All taxes might be borne by way of the buyer,” the attention mentioned.

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