NVD Solar and Bishal Group’s properties will be auctioned, says Sebi
The properties will be auctioned at a reserve price of around Rs 37 crore, according to a public statement from the Securities and Exchange Board of India (Sebi).
Capital markets controller Sebi on Wednesday said it would auction 22 properties of the Bishal Group of businesses and NVD Solar on August 14 to retrieve money illegally gathered from investors.
The properties will be auctioned at a reserve price of around Rs 37 crore, according to a public statement from the Securities and Exchange Board of India (Sebi).
Of the 22 properties, 17 are of the Bishal Group of businesses (Bishal Abasan India Ltd, Bishal Distillers Ld, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd), and five are concerned with NVD Solar.
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These properties have land parcels, flats and a residential structure located in West Bengal.
Inviting proposals for the sale of properties in the recovery methods against the parties and their promoters and executives, Sebi said the auction will be done online on August 14 from 10:30 am to 12:30 pm. Adroit Technical Services has been selected as the e-auction service provider.
The regulator has requested the bidders to make independent inquiries about the limitations, title of properties put on auction and claims, among others, before presenting their offers.
