SEBI to Auction KBCL India's Properties to Recover Investor Funds

SEBI plans to auction 19 properties of KBCL India Ltd on July 16 to recover funds collected illegally from investors. The assets include land parcels in Uttar Pradesh, with an estimated value of Rs 3.54 crore. Quikr Realty and C1 India will assist in the sale. Bidders are advised to make independent enquiries.

SEBI, the capital markets regulator, has scheduled an auction for 19 properties belonging to KBCL India Ltd on July 16, aiming to recover investor funds that were unlawfully collected.

The properties, including various land parcels in Uttar Pradesh, are valued at a reserve price of Rs 3.54 crore. Quikr Realty will assist SEBI in coordinating the sale, with C1 India serving as the e-auction service provider.

SEBI has invited bids for the assets as part of its recovery proceedings against KBCL India Ltd and its directors, who failed to reimburse investors. Prospective buyers are encouraged to make independent checks regarding any encumbrances or legal complications before bidding.