New Delhi, May 22 (PTI) – In a significant step towards investor recompense, the Securities and Exchange Board of India (Sebi) will auction 30 properties belonging to the Rose Valley group of companies on June 27. The markets regulator confirmed on Thursday that these assets carry a collective reserve price of ₹409 crore, part of an ongoing effort to recover funds raised by the firm from the public through illicit schemes.
The properties slated for auction include a diverse range of assets: land with buildings, flats, a resort, hotels, and an amusement park, as well as other buildings, plots, and land parcels. These are located in West Bengal, the Andaman and Nicobar Islands, Tripura, and Bihar, the Securities and Exchange Board of India (Sebi) detailed in its notice.
The e-auction is scheduled from 11 am to 1 pm on June 27, with the total reserve price for the properties precisely pegged at ₹409.02 crore.
Sebi has appointed C1 India to conduct the e-auction, while Quikr Realty has been engaged to assist in the sale of these Rose Valley assets.
This large-scale auction proceeds under the guidance of the Assets Disposal Committee (ADC), established by a Calcutta High Court order on May 11, 2015.
The ADC is mandated to oversee the sale of Rose Valley group’s assets, ensuring the proceeds are utilized for repaying investors.
This move follows earlier recovery efforts by Sebi. In November, the regulator auctioned 27 Rose Valley properties worth ₹63.26 crore.
Subsequently, in May 2024, an auction of 22 properties yielded ₹8.6 crore.