Capital markets regulator Sebi on Monday said it will auction 15 properties belonging to Mangalam Agro Products, Sumangal Industries and Falkon Industries India on November 19.
The move is part of Sebi’s efforts to recover money collected by these companies from investors in violation of norms.
Ravi Kiran Realty India and Purusattam Infotech Industries are the two other companies whose properties will be auctioned by the markets watchdog.
Properties that will go under the hammer including flats, land with structure and land parcels are located in West Bengal and Odisha.
The properties will be auctioned with a reserve price of Rs 11.89 crore and the auction will be conducted online on November 19 from 11 am to 1 pm, the Securities and Exchange Board of India (Sebi) said in a notice.
Sebi has invited bids for the sale of properties in the recovery proceedings against Mangalam Agro Products, Sumangal Industries, Falkon Industries India, Ravi Kiran Realty India and Purusattam Infotech
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