Company property located in these states including Bihar, Bengal will be auctioned
Market Regulator SEBI is going to auction the property of Rose Valley Group. SEBI (Security and Exchange Board of India) said on Thursday that he would auction 30 property of Valley Group on 27 June. SEBI said that the reserve price of all these properties has been fixed at Rs 409 crore. Let us tell you that through the money coming from this auction, the fraud done by the company will be recovered. Rose Valley had collected thick money from people through illegal schemes and cheated them.
Company property located in these states including Bihar, Bengal will be auctioned
The Securities and Exchange Board of India (SEBI) said in an information that the property to be included in the auction included lands with the company’s buildings, plots, flats, resorts, hotels and entertainment parks in West Bengal, Andaman and Nicobar Islands, Tripura and Bihar. For these properties, an online auction will be organized on June 27 between 11 am and 1 pm. The total reserve price of these properties has been estimated at Rs 409.02 crore.
Calcutta High Court directed to auction property in 2023
Let us tell you that in September 2023, the Calcutta High Court directed SEBI to start the e-auction of the select property of Rose Valley. In November last year, SEBI auctioned a 27 property of Rs 63.26 crore of Rose Valley Group. Earlier in May 2024, SEBI auctioned 22 properties of Rs 8.6 crore of the company. In June 2022, SEBI ordered the bank accounts of Rose Valley Hotels and Entertainment Limited and its then directors to be attached to the bank accounts as well as shares and mutual fund holdings for the recovery of dues worth more than Rs 5000 crore.
With PTI inputs
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