Page 8 - Auction

RCap assets' e-auction to kick off on Dec 19; base bid at Rs 5,300 crore

This is the first time that an e-auction of this scale would take place for a debt resolution under the Insolvency and Bankruptcy Code, 2016

Sebi to auction properties of 4 firms on Jan 10 to recover investors' money

Markets regulator Sebi on Wednesday said it will auction the properties of four companies, including Infinity Realcon and Sumangal Industries, on January 10 to recover money that was illegally raised by them from investors. Other two firms, whose properties will go under the hammer are GSHP Realtech Ltd and Infocare Infra Ltd, the Securities and Exchange Board of India (Sebi) said in a notice. A total of 25 properties of the four companies will be auctioned at a reserve price totalling Rs 12.2 crore, it noted. Of these properties, 16 belongs to Infinity Realcon, five relates to Sumangal Industries and two each to GSHP Realtech and Infocare Infra. These properties include land parcels, plots, single storied buildings and a flat located in West Bengal. Inviting bids for the sale of properties in the recovery proceedings against the four firms and their promoters or directors, Sebi said the auction will be conducted online on January 10 next year from 10.30 am to 12.30 pm. eProcurem

M3M expects Rs 5,000 cr in sales through 13-acre land acquired in Noida

Real estate firm will invest Rs 2,400 cr in mix-use project of housing, retail and service apartments

Old sandals worn by Apple co-founder Steve Jobs auctioned for nearly $220K

The California house where Steve Jobs co-founded Apple is a historical site, and now the sandals he wore while pacing its floors have been sold for nearly USD 220,000, according to an auction house. The "well used" brown suede Birkenstocks dating to the mid-1970s set a record for the highest price ever paid for a pair of sandals, Julien's Auctions said Sunday. "The cork and jute footbed retains the imprint of Steve Jobs' feet, which had been shaped after years of use," the auction house said in the listing on its website. The sandals were expected to bring USD 60,000, but the final sale price with an accompanying NFT was USD 218,750, Julien's said. The buyer was not named. Jobs and Steve Wozniak co-founded Apple in 1976 at Jobs' parents' house in Los Altos, California. In 2013, the property was named a historic landmark by the Los Altos Historical Commission. Jobs died in 2011 from complications of pancreatic cancer.

Godrej Properties highest bidder for Noida land parcels with Rs 377-cr bid

Realty firm Godrej Properties Ltd on Saturday said it has been declared as the highest bidder for two adjacent land parcels in Noida with a bid of Rs 377 crore. The company said in a regulatory filing that it has been declared as highest bidder as per the e-tendering portal of SBI, which facilitated the e-auction on behalf of Noida Authority. The company will develop residential group housing on the adjacent land parcels located in Sector 146, Noida. Spread over 12.4 acres, the land parcels will offer about 3.2 million square feet of development potential. Mohit Malhotra, MD and CEO, Godrej Properties, said, "We have witnessed strong demand for our existing projects in Noida and these projects will further strengthen our development portfolio in NCR (National Capital Region). This fits well with our strategy of deepening our presence in key micro markets across India's leading cities." Godrej Properties is one of the leading real estate developers in the country.

India's bad bank NARCL offers Rs 228 cr for Mittal Corp debt held by PSBs

The NARCL will have the right to match any counteroffers, as the lenders have put the debt on the block

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman

Proteas power-hitter Tristan Stubbs gets highest bid in SA20 auction

South Africa's hard-hitting batter Tristan Stubbs fetched the highest bid of Rand 9.2 million from Sunrisers Eastern Cape, who emerged victorious in a bidding war at the inaugural SA20 Player Auction

PM Modi's NCC alumni card, Ram temple models most sought for auction

Prime Minister Narendra Modi's NCC alumni card, multiple models of the upcoming Ram temple in Ayodhya and a statue of the mascot of the recently-held Chess Olympiad in Chennai are among the items which are highly sought after at an online auction of mementos gifted to the PM. The online auction of over 1,200 such items, including a model statue of Netaji Subhas Chandra Bose and sporting memorabilia of the Commonwealth Games, started on Saturday and will go on till October 2. The auction is being conducted through web portal pmmementos.gov.in and it has one section that lists items under the head 'Most Participated Auction'. Among these sought after items is a memento given by the National Cadet Corps (NCC) in the form of an alumni card displaying Modi's photograph, 'Life Member', year 2021 and 'Directorate: Guj, DD & DNH' The alumni card has received over 20 bids till about 11 AM on Sunday. The auction had gone live at 10 AM on Saturday morning, coinciding with Modi's 72nd ...

Vedanta Ltd bags two coal commercial mines in e-auction in Odisha

Vedanta Ltd has emerged as the highest bidder for two coal mines in Odisha on the second day of commercial coal mines auction. The government put on sale 10 coal mines under the commercial coal mine auction on Tuesday and Wednesday. "On the 2nd day of the e-auction today , two coal mines were put up for auction of which both coal mines were MMDR coal mines," the coal ministry said in a statement. The blocks were auctioned under the second attempt of the fourth round of commercial coal mine auction. Both the coal mines are fully explored and have Peak Rate Capacity (PRC) of 20 million tonnes per annum. Jaiprakash Power Ventures had emerged as the highest bidder for a coal block in Madhya Pradesh on the first day of the auction of blocks on Tuesday. While Madhya Bharat Minerals had emerged as the highest bidder for a coal mine in Chhattisgarh, Avassa Ferro Alloys bid the highest for a mine in Maharashtra. Gangaramchak Mining was the highest bidder for a mine in Jharkhand whi

Sale of Warren Buffett portrait raises lesser funds than $19 mn lunch bid

The auction of a high-tech portrait of Warren Buffett didn't come close to matching the $19 million someone paid earlier this year for a private lunch with the billionaire, but it still raised $75,100 for one of his favorite charities. The eBay auction wrapped up Tuesday evening on Buffett's 92nd birthday. The portrait created by Motiva Art features a grid of letters over the picture that light up to spell out 11 of the Berkshire Hathaway CEO's best-known quotes including, "It's only when the tide goes out that you learn who has been swimming naked." A previous portrait of Buffett painted by performance artist Michael Israel in 10 minutes outside the Berkshire annual meeting attracted a $100,000 price in 2008. The lunch auction Buffett has done for years to benefit the Glide Foundation that helps the homeless in San Francisco always attracts big bids because it offers exclusive access to the investor who is willing to answer almost any question except what he might buy next. This .

Govt may invite financial bids for Shipping Corp sale in March quarter

The government is likely to invite financial bids for privatisation of state-owned Shipping Corporation of India (SCI) in the March quarter, an official said. "The demerger of non-core and land assets of Shipping Corporation is at an advanced stage. The process is expected to be over in about three months' time, after which financial bids will be invited," the official told PTI. The financial bids from potential investors are expected in the January-March quarter, the official added. In May, the board of Shipping Corp had approved an updated demerger scheme for hiving off the non-core assets of SCI to Shipping Corporation of India Land and Assets Ltd (SCILAL) including Shipping House, Mumbai and MTI (Maritime Training Institute), Powai to complete the process of de-merging all the non-core assets to the new company SCILAL. As per the balance sheet of SCI, the value of non-core assets held for demerger as of March 31, 2022, stood at Rs 2,392 crore. In March 2021, the government had

Viacom18 wants closed-envelope bids for media rights junked, ICC disagrees

Says the cricket governing body must explain PwC's exit from the auction process

Govt plans to auction 17 non-operational mines surrendered by PSUs: Joshi

The government plans to put on auction 17 mines surrendered by public sector undertakings which could not put the blocks into operation, Coal and Mines Minister Pralhad Joshi said on Tuesday. The statement comes in the wake of the government making efforts to ramp up domestic coal production to ensure adequate availability of dry fuel to different sectors. "Just the-day-before yesterday (Sunday) I got 17 blocks back and they are very good blocks and I am putting them for auction now," Joshi said. Speaking during a conference on the Indian minerals and metals industry organised by NMDC and FICCI, the minister said many PSUs in the country in sectors like coal were sitting on big mines. The government decided to take away all those mines from the public sector undertakings which do not get into operation even after the lapse of five to six years and put them on sale. "I talked to the chief ministers and ministers of a few states and asked them the reasons for sitting on mines. These

As James Bond movies turn 60, his memorabilia is going under the hammer

007's watches, his Aston Martin among Christie's auction in September

ICC gives in to bidders' demands, changes auction rules for upcoming events

For four-year media rights for India, the benchmark price has been set at $1.4 billion. For eight years, the price has been set at $4 billion, 2.8 times the price for four years

Hitler's watch sells at Maryland auction for $1.1 million as 'WWII relic'

A Maryland auction house had estimated the value of wristwatch that once belonged to Adolf Hitler between $2-4 million, describing the watch as a "World War II relic of historic proportions."

Renewable energy auctions to attract large developers: IEEFA Report

Large developers in the renewable energy sector have enough options to boost returns even as challenges mount and will fight aggressively in the various auctions scheduled in 2022

BCCI walks away with Rs 48,390 cr in three-day IPL auction for media rights

Disney-Star, Viacom18 and Times Internet are winners, confirms cricket body's secretary Jay Shah

$142-million Mercedes-Benz smashes Ferrari's classic car record: Report

A 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe sold for €135 million ($142 million) in a secret auction in Germany on May 5, Mercedes-Benz Chairman Ola Källenius has confirmed