saradha group : Sebi bid for Saradha Group’s assets on November 1 | Catch My Job

Market regulator Sebi said on Friday it had auctioned 69 properties of the Saradha Group for a November 1 auction at a reserve price of Rs 30 crore. The move is part of Sebi’s efforts. To borrow money that the company earns from the public through illegal schemes.

In its announcement, the Securities and Exchange Commission of India (Sebi) said the auction would run between 11 a.m. and 1:00 p.m. on November 1, 2022.

Properties that will be under the hammer include land plots located in West Bengal.

The total booking price for these properties is set at approximately Rs 30 crore and the regulator has appointed C1 India as the electronic auction service provider. Online registration and electronic auctions are conducted through Quikr Realty.

The development comes after the Calcutta High Court issued an order in June ordering Sebi to conduct an auction for the Saradha Group’s assets. The entire exercise was scheduled to be completed within three months.

Saradha Group, a private conglomerate of more than 239, is accused of operating chit funds in West Bengal, Assam and Orissa and purging Rs. 4 billion from 1.7 million depositors before it collapses in April 2013

According to the announcement, the marketplace said bidders should inquire about their obligations, litigation, attachments, liability for acquiring the auctioned property themselves. before bidding

“Property is sold with all existing and future obligations, whether known or unknown to Sebi/ the Entity. Sebi/ the Entity is not liable in any way for any third party claims/rights/fees. any,” the announcement said.