SEBI to auction 18 properties

By Accommodation Times Bureau


Securities and Exchange Board of India (Sebi) has to set to e-auction 18 properties of MPS Greenery Developers by next month to recover investors’ money.

The reserve price of 18 properties is over Rs 67 core.

The property listed for sale includes commercial space, residential flats, buildings, land parcels in Kolkata. Bidders can inspect these properties on June 5.

For terminating the assets of the firm, the one-man committee, Justice Sailendra Prasad Talukdar has been appointed for it.

On the basis of “as is where is and whatever there is” the Securities and Exchange Board of India has engaged SBI Capital Markets to help in the sale of the assets via online auction.

With the help of illegal investments schemes, the firm has collected Rs 1,520 crore from the investors.

According to the notice issued today Sebi, on June 19, the 18 properties will be e-auction at a reserve price of over Rs 67 core.

Sebi, in December 2012 had directed the firm to close illegal investment schemes and return back the money of investors within one month.


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