SEBI will auction four companies with Golden Life Agro and Sun Plant Agro

Markets regulator Sebi will auction as many as 16 properties of four companies including Golden Life Agro India and Sun-Plant Agro next month at a reserve price totaling Rs 9 crore.

Properties of Greenworld Agro Industries and Sun Plant Business will also go under the hammer.

The move is part of an effort by Sebi to recover money that the companies had illegally mobilized from people.

The auction of these land parcels spread across West Bengal will be conducted on September 28, Sebi said in a notice today.

Out of the 19 properties being put on the block, eight belong to Sun-Plant Agro, six of Golden Life Agro India and one each of Greenworld Agro Industries and Sun Plant Business.

The reserve price of these properties amounts to Rs 8.86 crore.

The regulator has engaged SBI Capital Markets to assist it for sale of these properties through the e-auction platform.

The interested candidates can inspect the properties on September 14, Sebi said, adding that bidders should make their own independent inquiries regarding the encumbrances, title of properties put on auction and claims, among others, prior to submitting their bids.

Earlier this month, Sebi had announced that it would auction 19 properties owned by five companies -- Maitreya Services, Suman Motels, Arise Bhoomi Developers, Parasrampuria Plantations, and Four Seasons Farms -- on September 12 for a reserve price of over Rs 40 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)