SEBI puts on block 16 properties

SEBI puts on block 16 properties
18/07/2017 , by , in News/Views

Sebi has put up for sale as many as 16 properties of four firms — Golden Life Agro India, Greenworld Agro Industries, Sun Plant Business and Sun Plant Agro — in order to recover dues worth over Rs 87 crore.

The markets watchdog had earlier attached some of their properties after it asked them to refund investors’ money along with interest, which did not materialise.

These companies had illegally raised funds from the public.

Out of the 16 properties being put on the block, eight belong to Sun Plant Agro, six of Golden Life Agro India and one each of Sun Plant Business and Greenworld Agro Industries.

The auction of these properties, spread across West Bengal and Bihar, will be conducted on August 18 and bids for participation will be accepted till August 11, Securities and Exchange Board of India (Sebi) said in a notice.

The markets regulator said the bidders should make their own independent enquiries regarding the encumbrances, litigation, attachments, acquisition and liabilities of the property put on auction prior to submitting their bids.

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