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Sebi to auction 11 Sunshine Infra assets in Sept to recover illegal funds

Move comes after Sunshine Infrabuild failed to refund money that it illegally raised from people

Press Trust of India 

To recover illegal fund Sebi to auction Sunshine Infra's 11 assets in Sept

regulator will auction as many as 11 properties owned by in September to recover funds that it illegally raised from people.

The properties to go under the hammer include land parcels and shops in Delhi, Uttar Pradesh, and Chhattisgarh, (Sebi) said in a public notice.


As part of the recovery proceedings, will auction the properties in Delhi, Uttar Pradesh, on September 7, while assets in will go under the hammer on September 8.

The regulator has engaged SBI Capital Ltd for assistance in the sale of the 11 properties.

The move comes after Sunshine Infrabuild failed to refund the money that it illegally raised from people.

The regulator has already attached the company's various bank accounts and mutual funds.

found that Sunshine Infrabuild allotted various types of debentures to over 8,000 investors and raised more than Rs 26 crore during 2010-11 to 2012-13. These funds were garnered in violation of the public issue norms.

First Published: Wed, July 26 2017. 16:55 IST
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