Capital markets regulator SEBI will auction properties of Ramel Industries for a total reserve price of Rs 19 crore on February 24 in order to recover money raised by the company from public through illicit schemes.
The properties to go under the hammer include land parcels, agricultural land, office premises and flat and godown across West Bengal, SEBI said in a public notice on Friday.
Inviting bids for sale of properties in the recovery proceedings against Ramel Industries and its promoters or directors, SEBI said the e-auction will take place on February 24, 2022 between 10.30 am and 12.30 pm.
Total reserve price of these properties is pegged at Rs 19 crore and the regulator has engaged Quikr Realty to assist it for sale of the properties.
The market watchdog said the bidders should make their own independent enquiries regarding the encumbrances, litigation, attachments, acquisition and liabilities of the property put on auction prior to submitting their bids.