Sebi puts up for sale 4 properties of Maitreya Services

Sebi puts up for sale 4 properties of Maitreya Services
20/09/2017 , by , in News/Views

Capital markets regulator Sebi has put up for sale four more properties of Maitreya Services at a total reserve price of about Rs 23 crore so as to recover investors’ money which was raised illegally by the company. The Securities and Exchange Board of India (Sebi) had in September last year auctioned six land parcels of the company.

In a notice issued today, the regulator said the total reserve price of the four properties — most of which are land parcels — in Gujarat and Maharashtra comes to Rs 22.83 crore. The interested candidates can inspect the properties during October 11-13 and submit their bids by October 23. Sebi said bidders should make their own independent enquiries regarding the encumbrances, title of properties put on auction and claims, among others, prior to submitting their bids.

In 2013, Sebi had found that Maitreya Services was running unauthorised Collective Investment Scheme (CIS) businesses. It had raised more than Rs 700 crore from about 2.5 million investors.

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