Capital markets regulator Sebi on Wednesday said it will auction 27 properties of Rose Valley group of companies on November 25 at a reserve price of Rs 63.26 crore in a bid to recover money raised by the firm from the public through illicit schemes.
The properties to go under the hammer include flats, buildings, land parcels and hotels located in West Bengal and Bihar, the Securities and Exchange Board of India (Sebi) said in a notice.
The e-auction will be conducted on November 25 between 11 am to 1 pm. The total reserve price of these properties is pegged at Rs 63.26 crore, it added.
The markets regulator said it has engaged Quikr Realty to assist it in sale of the properties of Rose Valley while C1 India has been appointed as the e-auction service provider.
A committee would oversee sale of the assets and the money will be utilised for repaying the investors. The committee was formed following an order passed by Calcutta High Court in May 2015.
Going by the notice, bidders may
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