Suspense Crime Sach Ka Dam
Capital market regulator Sebi will auction 27 properties of Rose Valley Group on November 25 to recover money raised from the public through illegal schemes. The reserve price of these properties is Rs 63.26 crore, the market regulator said on Wednesday. According to PTI news, the Securities and Exchange Board of India (Sebi) said in a public notice that Rose Valley’s properties to be auctioned include flats, buildings, land plots and hotels located in West Bengal and Bihar.
The auction will be held between 11 a.m. and 1 p.m.
According to the news, the e-auction will be held on November 25 between 11 am and 1 pm. The market regulator said that a committee will oversee the sale of properties and the money received from it will be used to pay the money to the investors. This committee was formed after the order of the Calcutta High Court in May 2015. The Securities and Exchange Board of India (SEBI) said that the successful bidder will have to bear the charges / fees payable as per law for the transfer of property such as applicable stamp duty / transfer fee, registration expenses, fees etc.
Help to investors who are victims of fraudulent schemes
In August this year, the Enforcement Directorate (ED), on the orders of a PMLA court in Kolkata, helped recover Rs 19.40 crore to investors who were victims of the Rose Valley Group’s fraudulent scheme. Earlier in May, SEBI had auctioned 22 properties of Rose Valley worth Rs 8.6 crore. In June 2022, SEBI had ordered the attachment of bank accounts as well as shares and mutual fund holdings of Rose Valley Hotels and Entertainment Limited and its then directors to recover dues of over Rs 5,000 crore of investors.
