Sebi to auction 8 properties of Parasrampuria, Sai Space

By: |
July 21, 2017 7:05 PM

Markets regulator Sebi will auction eight properties owned by Parasrampuria Plantations Ltd and Shree Sai Space Creations Ltd next month for a total reserve price of over Rs 8 crore.

Sebi, Shree Sai Space Creations Ltd, Total reserve price, Parasrampuria, Plantations, Market regulator SebiMarkets regulator Sebi will auction eight properties owned by Parasrampuria Plantations Ltd and Shree Sai Space Creations Ltd next month for a total reserve price of over Rs 8 crore. (Image: IE
)

Markets regulator Sebi will auction eight properties owned by Parasrampuria Plantations Ltd and Shree Sai Space Creations Ltd next month for a total reserve price of over Rs 8 crore.  The move is part of an effort by Securities and Exchange Board of India (Sebi) to recover investors’ money.  Out of the eight properties being put on the block, six belong to Shree Sai Space Creations and two of Parasrampuria Plantations.  The auction of the properties, spread across Maharashtra, and mostly include land parcels, will be conducted on August 24 and bids for participation will be accepted till August 21, Sebi said in a notice yesterday.

The regulator has engaged SBI Capital Markets Ltd to assist it for sale of these properties.  Sebi had earlier attached bank as well as demat accounts of these companies after they failed to refund investors’ money along with interest. These firms had illegally raised funds from the public.  The market watchdog said the bidders should make their own independent enquiries regarding the encumbrances, litigation, attachments, acquisition and liabilities of the property put on auction prior to submitting their bids.  “The properties are being sold with all the existing and future encumbrances whether known or unknown to Sebi. Sebi shall not be responsible in any way for any third party claims/rights/dues, etc,” as per the notice.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1No major up move in Gold next week, may underperform Silver in short term; charts show bullish trend in Silver
2SGX Nifty up, Q2 results, stocks under F&O ban, Nifty, Bank Nifty view: key things to watch out for
3Petrol and diesel price October 22: Rates hiked for 3rd day straight; Check price in Delhi, Mumbai here