Sebi finds buyers for jewellery, ornaments of Sai Prasad group

Capital markets regulator Sebi has found buyers for seized jewellery and ornaments worth about Rs 3.5 crore it had auctioned for recovery of funds from Sai Prasad group.
The e-auction for these items were held today as part of the recovery proceedings against Sai Prasad Group of Companies -- Sai Prasad Properties Ltd, Sai Prasad Foods Ltd and Sai Prasad Corporation Ltd.
The items included jewellery and ornaments of gold, diamond, silver items and branded watches.
After the e-auction, Sebi declared one individual named Pramod Lohia as "the highest bidder" for six lots including of gold jewellery and ornaments, composite jewellery and branded watches.

While the bidder had submitted Rs 28.01 lakh towards earnest money and inspection charges, Sebi today asked him to deposit the balance amount of about Rs 31.1 crore along with "poundage fee" of 1 per cent of bid amount.
Separately, Sebi declared one Star Brillain as the highest bidder for one lot of five silver items for Rs 7.58 lakh. Sebi said it has received the entire sale consideration and 1 per cent poundage fee.