Markets regulator Sebi on Monday mentioned it can public sale 23 properties belonging to Utkarsha Plotters and Multi Agro Solutions India Ltd on July 29 to get better cash that was illegally raised by the corporate.
The properties embody agricultural land parcels, plots and residential areas throughout Maharashtra, the Securities and Exchange Board of India (Sebi) mentioned in a discover.
Inviting bids for the sale of belongings underneath the restoration proceedings towards the companies and their administrators — Dipali Mitharam Gurav, Mitharam Chhagan Gurav and Pravin Chhagan Gurav, Sebi mentioned the public sale might be carried out on-line on July 29 from 10.30 am to five.30 pm.
Share Market LIVE: Sensex sits above 53300, Nifty nears 15900, could head to 16000 quickly; IT inventory rally
Reliance, Zomato, Infosys, Bajaj Auto, Dr Reddy’s, Axis Bank, Future Enterprises shares in deal with June 27
Share Market LIVE: Sensex again above 53300, Nifty touches 15900, could head to 16000 quickly; IT inventory rally
Share Market LIVE: SGX Nifty hints gap-up begin for Sensex, Nifty; Inflation battle prolonged, warns RBI’s Patra
The 23 properties might be auctioned at a reserve worth of Rs 4.6 crore. Besides, Adroit Technical Services has been appointed because the e-auction service supplier by the regulator.
The firm had raised funds from the general public by launching Collective Investment Scheme (CIS) with out acquiring registration from the regulator. It carried on CIS underneath the garb of buy/sale/improvement of the plot of land.
To get better public cash, Sebi had hooked up the financial institution and Demat accounts of Utkarsha Plotters and Multi Agro Solutions India and its administrators in September 2018 and November 2018, the regulator had ordered the attachment of 26 properties, belonging to them to get better over Rs 38 crore.
Earlier in January 2015, the regulator had prohibited the Maharashtra-based firm from elevating funds from the general public with fast impact. Besides, the market watchdog directed the corporate to not launch any new scheme.
Source: www.financialexpress.com”