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Sebi to auction properties of 7 cos on Jun 28 to recover investors’ money
Markets regulator Sebi on Thursday said it will auction 17 properties belonging to seven business groups including MPS Group, Tower Infotech, and Vibgyor Group on June 28, with a total reserve price of Rs 51 crore, in a bid to recover investors' money.
Apart from these, the regulator has put on block properties of Prayag Group, Multipurpose BIOS India Group, Waris Finance International Group and Pailan Group of companies, the Securities and Exchange Board of India (Sebi) said in a notice.
The 17 properties being auctioned include land parcels, storied buildings, flats, and a commercial space situated across West Bengal.
Inviting bids, Sebi said auction of the properties will be conducted through online mode between 11 am and 1 pm. Further, total reserve price has been pegged at Rs 51 crore for the assets and Quikr Realty has been engaged by Sebi to assist in the sale of these properties.
Of the total properties to be auctioned, five belong to MPS Group, four relate to Vibgyor, thre