The Securities and Exchange Board of India (SEBI) is set to auction 19 properties belonging to seven companies today, August 12. The properties, which include land parcels, buildings, and flats, are being auctioned as part of SEBI’s efforts to recover dues from the companies.
The companies whose properties are being auctioned include Mangalam Agro, Sun Plant Business, Sumangal, and Ravi Kiran Realty, among others. The properties are located in various cities across India, including Mumbai, Pune, and Hyderabad.
The auction is being conducted by SEBI under the Securities and Exchange Board of India (Attachment and Sale of Securities) Rules, 2003. The regulator has invited bids from interested parties, and the properties will be sold to the highest bidder.
The move is part of SEBI’s efforts to recover dues from companies that have failed to comply with regulatory requirements or have been involved in fraudulent activities. The regulator has been actively auctioning properties of such companies in recent months to recover investor funds.
The auction details, including the reserve price and bidding process, are available on SEBI’s website. Interested bidders can participate in the auction by submitting their bids electronically.