Companies

SEBI to auction Sahara group’s 13 more land parcels

PTI New Delhi | Updated on January 16, 2018 Published on September 21, 2016

sahara

This is in addition to 58 properties of the group that were scheduled to be auctioned in July

Moving ahead with sale of Sahara assets to recover money, regulator Securities and Exchange Board of India (SEBI) today lined up 13 land parcels of the beleaguered group for an e-auction next month at a total reserve price of about Rs 1,400 crore.

This is in addition to 58 properties of the group that were scheduled to be auctioned in July and their combined reserve price was nearly Rs 5,000 crore.

In separate notices today, the SEBI said HDFC Realty will auction seven properties on October 27 at a reserve price of more than Rs 710 crore, while SBI Caps will auction six properties on October 25 at a reserve price of over Rs 672 crore.

Following directions from the Supreme Court for sale of certain Sahara assets to recover money, SEBI has mandated SBI Capital Markets (SBI Caps) and HDFC Realty for auctioning a total of 61 land parcels.

HDFC Realty has been roped in to auction 31 land parcels at a reserve price of Rs 2,400 crore, while SBI Caps has been asked to auction 30 land properties with an estimated market value of about Rs 4,100 crore.

These properties are spread across the country and mostly include land parcels. As per the court directions, they cannot be sold at less than 90 per cent of the circle rates.

After spending two years in jail, Sahara chief Subrata Roy is currently out on parole. He was sent to jail on the orders of the Supreme Court in a long-running dispute with SEBI.

Published on September 21, 2016

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