Sebi to auction 15 properties on May 11 to recover investors' money

Capital markets regulator Sebi on Wednesday said it will auction the properties of Sun Plant Agro, Sun Plant Business and Remac Realty on May 11 to recover money that was illegally raised from the public. It will auction a total of 15 properties of these three firms for reserve prices ranging from Rs 19 lakh to Rs 1.7 crore. Out of the 15 properties, nine belong to Sun Plant Business, four relate to Sun Plant Agro and the remaining two belong to Remac Realty. These properties include land parcels and flats spread across West Bengal, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids for the sale of assets under the recovery proceedings against the three firms and their directors, Sebi said the auction will be conducted online on May 11 from 10.30 am to 12.30 pm. Adroit Technical Services has been appointed as the e-auction service provider. The regulator has asked the bidders to make their own independent enquiries regarding the encumbrances, title

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