Capital markets regulator Sebi has said that it will auction seven properties belonging to Bishal Group of Companies on December 10 to recover money illegally collected by the entity from investors.
The properties will be auctioned at a reserve price of a little over Rs 15.47 crore, according to a public notice issued by the Securities and Exchange Board of India.
These properties are flats, land and buildings, land parcels, and plots located in West Bengal.
Sebi has invited bids for the sale of properties in the recovery proceedings against Bishal Abasan India Ltd, Bishal Distillers Ltd, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd and their promoters/directors (collectively referred to as Bishal Group).
The regulator said the auction will be conducted on December 10 from 11 am to 1 pm.
Adroit Technical Services has been appointed by the markets watchdog to assist it in the sale of properties.
The regulator has asked the bidders to make their own .
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