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Sebi to auction properties of 4 companies

Press Trust of India  |  New Delhi 

Sebi will as many as six properties of four companies, including and Life Care Infratech, next month at a reserve price totalling Rs 5 crore as the market regulator looks to recover investors' money.

Properties of Servehit Housing and Infrastructure as well as and Infrastructure will also go under the hammer.

The of these land parcels spread across and will be conducted on November 11, Sebi said in a notice issued on Friday.

Out of the six properties being put on the block, two each belong to and Life Care Infratech; and one each of and Servehit Housing.

The reserve price of these properties amounts to Rs 4.74 crore.

The move is part of an effort by the (Sebi) to recover money that these companies had illegally mobilised from people.

Swar Agrotech, Raghav Capital, Servehit Housing had mobilised funds from the public through Collective Investment Scheme (CIS), without getting regulatory approvals, while had raised funds from investors through issuance of securities without complying with the public issue norms.

The regulator has engaged to assist it for sale of these properties through e-platform.

The interested candidates can inspect the properties on during November 12-16, Sebi said, adding that bidders should make their own independent enquiries regarding the encumbrances, title of properties put on auction and claims, among others, prior to submitting their bids.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 12 2018. 15:40 IST