Sebi to e-sell Sahara properties for Rs 1,000 cr

Posted on:10 Jun 2016 14:49:08
Sebi to e-sell Sahara properties for Rs 1,000 cr
10 June 2016 Current Affairs: Capital markets regulator Securities and Exchange Board of India (Sebi) will sell 16 land parcels of the Sahara Group to recover dues through e-auction .

It has set a reserve price of Rs 1,898 crore for these properties. While SBI Capital Markets will conduct the e-auction on July 13, HDFC Realty will conduct one on July 15, said notices published by these agencies. They have been appointed to conduct the sale of Sahara properties.

According to the notice, SBI Cap will auction eight land parcels which will fetch Rs 1,196 crore at the reserve price and HDFC Realty will auction five land parcels at reserve price of Rs 702 crore.

The properties residential, agricultural and non-agricultural - are located in Rajasthan, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Bihar and Jharkhand. Interested bidders can inspect these land parcels between June 16 and 17.

According to the court directions, these properties cannot be sold at less than 90 per cent of circle rates.

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