E - PAPER

CURRENT MONTH

LAST MONTH

VIEW ALL
  • HOME
  • NEWS ROOM
  • COVER STORY
  • INTERVIEWS
  • DRAWING BOARD
  • PROJECT WATCH
  • SPOTLIGHT
  • BUILDING BLOCKS
  • BRAND SYNC
  • VIDEOS
  • HAPPENINGS
  • E-MAGAZINE
  • EVENTS
search
  1. Home
  2. News/Views

Quikr Realty to Assist SEBI in Selling 20 Properties Put on Block

Quikr Realty to Assist SEBI in Selling 20 Properties Put on Block

BY Realty Plus
Published - Wednesday, 01 Jun, 2022
Quikr Realty to Assist SEBI in Selling 20 Properties Put on Block

To recover investors' money, capital markets regulator Sebi said it will auction properties belonging to companies of MPS Group, Vibgyor Group, Prayag Group, Pailan Group and Multipurpose BIOS India Group on June 30 for a reserve price of nearly Rs 64 crore. These companies had raised funds from investors without complying with regulatory norms.

The 20 properties put on the block, which include land parcels, storied buildings, an office space, a commercial space and a flat, are situated across West Bengal, the Securities and Exchange Board of India (Sebi) said in a notice.

Inviting bids, Sebi said auction of the properties will be conducted through online mode on June 30 during 11 am to 1 pm. Out of the properties being put on the block, 13 belong to MPS Group of companies, 3 relate to Multipurpose BIOS India Group of companies, 2 belong to Vibgyor Group of companies and one each of Prayag Group of companies and Pailan Group of companies.

Total reserve price of these properties is pegged at about Rs 64 crore, as per the notice. Quikr Realty has been engaged by Sebi to assist it in sale of the properties. The regulator said the bidders should make their own independent enquiries regarding the encumbrances, title of properties put on auction and claims, among others, prior to submitting their bids.

"The properties are being sold with all the existing and future encumbrances whether known or unknown to Sebi. Sebi shall not be responsible in any way for any third party claims/rights/dues, etc," the notice said.

Sebi had earlier attached some of their properties after directives asking them to refund investors' money along with interest did not materialise. In this matter, the watchdog had also attached demat and bank accounts. MPS Group of companies includes MPS Greenery Developers that collected Rs 1,520 crore from investors through illegal Collective Investment Schemes (CIS).

Vibgyor Allied Infrastructure had issued optionally fully convertible debentures to 49,562 investors in 2009 and raised Rs 61.76 crore, Pailan Group of companies had mopped-up Rs 83.42 crore by issuing non-convertible debentures to 23,685 persons between 2010-11 and 2014-15, Prayag Infotech had made an offer of redeemable preference between 2007-2008 and 2011-12 and mobilised at least Rs 131.37 crore from over 1.57 lakh investors, and Multi Purpose Bios collected Rs 5.97 crore from more than 1,460 people through redeemable preference shares between financial year 2007-08 and 2011-12.

These four companies were engaged in fund mobilising activity through issue of securities to more than 49 persons without complying with the provisions of the Companies Act, 1956.

RELATED STORY VIEW MORE

Assetz Unveils 700+ Plots in a Landmark Plotted Development
Brigade Group Acquired Strategically Located 11-Acre Land In Whitefield
Co-Living in India To Grow Threefold By 2030

TOP STORY VIEW MORE

HC Relief to WTCA on Trademark Row

WTCA expressed gratification for the High Court of Delhi recognizing that the Bhalla Group of Companies was continuing to infringe on its world-famous brands.

09 May, 2025

Beyond Chatbots: Changing Real Estate Customer Conversations

09 May, 2025

Instant, Legal Access to U.S. Property Equity Market for Indian Investors

09 May, 2025

NEWS LETTER

Subscribe for our news letter


E - PAPER


  • CURRENT MONTH

  • LAST MONTH

Subscribe To Realty+ online




Get connected with us on social networks!
ABOUT REALTY+

Started in 2004, Realty+, an exchange4media group publication is one of the most respected real estate magazines in India with offices in Delhi, Mumbai and Bengaluru.

Useful links

HOME

NEWS ROOM

COVER STORY

INTERVIEWS

DRAWING BOARD

PROJECT WATCH

SPOTLIGHT

BUILDING BLOCKS

BRAND SYNC

VIDEOS

HAPPENINGS

E-MAGAZINE

EVENTS

OTHER LINKS

TERMS AND CONDITIONS

PRIVACY-POLICY

COOKIE-POLICY

GDPR-COMPLIANCE

SITE MAP

REFUND POLICY

Contact

Mediasset Holdings 3'rd Floor, D-40, Sector-2, Noida (Uttar Pradesh), Pincode - 201301

tripti@exchange4media.com
realtyplus@exchange4media.com

+91 98200 10226


Copyright © 2024 Mediasset Holdings.
Rental Mobil bandung,Sewa Mobil Bandung, Rental bandung, Sewa Mobil, Jual Mesin Antrian, Harga Mesin Antrian, Mesin Antrian Murah, Jual KIOSK,Mesin Antri, Berita Terkini, Info Bray,Info Tempat Wisata,Portal Berita,Jasa Website