Capital markets regulator Sebi on Tuesday said it will auction four properties of Ravi Kiran Realty India Ltd and its promoters on December 16 to recover investors’ money.
These properties located in West Bengal will be auctioned at a reserve price totalling Rs 3.22 crore, the Securities and Exchange Board of India (Sebi) said in a notice.
Inviting bids for the sale of these properties, Sebi said the auction will be conducted through online mode.
The regulator has asked the intending bidders to make their own independent enquiries regarding the measurement, nature, type, classifications, encumbrances, litigations, attachments and liabilities of the properties put on auction.
In October 2020, Sebi had announced that it will auction four properties of Ravi Kiran Realty India on November 5, last year.
The company had raised funds by issuing redeemable preference shares (RPS) to 1,176 people…
