magic meters SEBI to auction 18 properties of Kolkata's MPS Greenery Developers next month
The Securities and Exchange Board of India (Sebi) has initiated the process for sale of assets of the company, as per an order by the Calcutta High Court.
Justice Sailendra Prasad Talukdar has been appointed as the one-man committee for liquidating the assets of MPS Group of companies and repaying the investors. Subsequently, the committee directed Sebi to proceed with auction of select properties of MPS Group.
SBI Capital Markets has been engaged by Sebi to assist in sale of the properties through e-auction platform on "as is where is and whatever there is" basis.
The West Bengal-based firm gathered Rs 1,520 crore from investors through illegal collective investment schemes.
In a notice issued today, the regulator will auction 18 properties on June 19 at a reserve price of over Rs 67 crore.
The property listed for sale include land parcels, buildings, residential flats and commercial space in Kolkata.