Markets regulator Sebi on Monday said it has lined up 22 properties of seven companies — including Pailan Group, Vibgyor Group and GBC Industrial Corp group — for auction on July 10 to recover money illegally collected from investors.
Other firms, whose properties will also be auctioned, are Tower Infotech Group, Waris Group, Teachers’ Welfare Credit and Holding Group, and Annex Infrastructure India Ltd.
The regulator has initiated the process for the sale of assets of the companies as per orders by the Calcutta High Court.
Justice Sailendra Prasad Talukdar has been appointed as the one-man committee for liquidating the assets of the firms and repaying the investors. The move is part of Sebi’s effort to recover investors’ money.
The properties include plots and a flat in West Bengal and they will be auctioned at a reserve price of Rs 45.47 crore, according to a notice issued by the Securities and Exchange Board of India (Sebi).
Adroit Technical Services Ltd has been engaged by t
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