Sahara land auction
To recover money from Sahara, Securities and Exchange Board of India(SEBI)has lined up another 16 land parcels of the beleaguered group for an e- auction next month at a reserve price of about Rs1,900Crore.
The newly scheduled auctions would take the total minimum value of the properties so far put on block at Rs3,100Crore.More properties worth an equivalent amount are expected to be put up for auction in coming days.
SBI Caps will auction eight properties on July 13 at a reserve price of Rs1,196Crore, while HDFC Realty would conduct an e-auction for another eight properties on July 15 at a reserve price of Rs702Crore.HDFC Realty and SBI Caps have already lined up two separate auctions on July 04 and July 07, respectively, for five properties each at a combined reserve price of Rs1,200Crore.
These properties are spread across the country and mostly include land parcels. As per the court directions, they cannot be sold at less than 90 per cent of the circle rates.