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SEBI to auction properties of Royal Twinkle, Citrus Check Inns on November 27

The move is part of SEBI’s efforts to recover funds worth thousands of crores of rupees raised by the companies in the garb of sham "timeshare" holiday plans.

October 29, 2021 / 07:39 PM IST
SEBI (PC-Reuters)

SEBI (PC-Reuters)

Capital markets regulator SEBI on Friday said it has lined up as many as 54 properties of Royal Twinkle Star Club and Citrus Check Inns for an auction on November 27 at a reserve price of Rs 259 crore.

The move is part of SEBI’s efforts to recover funds worth thousands of crores of rupees raised by the companies in the garb of sham "timeshare" holiday plans.

In a notice on Friday, the Securities and Exchange Board of India (SEBI) said it will auction 54 properties of the companies on November 27 at a reserve price of Rs 259 crore.

The auction will be conducted through online mode, it added.