Sebi to auction properties of 7 business groups on June 28
MUMBAI: The Securities and Exchange Board of India (Sebi) on Thursday said it will auction 17 properties belonging to seven business groups including MPS Group, Tower Infotech, and Vibgyor Group on June 28 in a bid to recover investors’ money.
Apart from these, the regulator has put on block properties of Prayag Group, Multipurpose BIOS India Group, Waris Finance International Group, and Pailan Group of companies. The properties being auctioned include land parcels, storied buildings, flats, and a commercial space situated across West Bengal.
Sebi said the auction of properties will be conducted via online mode between 11 am and 1 pm. Total reserve price has been pegged at Rs 51 crore for the assets and Quikr Realty has been engaged by Sebi to assist in the sale of these properties. Sebi said the bidders should make their independent enquiries regarding encumbrances, the title of properties put on auction.
“Bidders are advised to peruse copies of title deeds, available with Sebi and to undertake any verification of the identity and correctness of property details, encumbrances with the Sub-registrar’s office as well as revenue records, to their satisfaction, without recourse to Sebi, Committee and/ or the agency,” Sebi said.