Sebi to auction Sahara group’s five more land parcels
Following directions from the Supreme Court for sale of certain Sahara assets to recover money, Sebi has mandated SBI Caps and HDFC Realty for auctioning a total of 61 land parcels
New Delhi: Moving ahead with the sale of Sahara assets to recover money, capital markets regulator Securities and Exchange Board of India (Sebi) on Friday lined up as many as five land parcels of the beleaguered group for an e-auction next month at a total reserve price of over Rs130 crore.
Earlier, 13 properties were put on the block in October and their combined reserve price was about Rs1,400 crore. Prior to that, 58 properties were auctioned in July with a collective reserve price of nearly Rs5,000 crore.
In separate notices on Friday, the Sebi said SBI Capital Markets Ltd (SBI Caps) will auction three properties on 28 December at a reserve price of about Rs102 crore, while HDFC Realty will auction two properties on 27 December at a reserve price of over Rs29 crore.
Following directions from the Supreme Court for sale of certain Sahara assets to recover money, Sebi has mandated SBI Caps and HDFC Realty for auctioning a total of 61 land parcels. HDFC Realty has been roped in to auction 31 land parcels at a reserve price of Rs2,400 crore, while SBI Caps has been asked to auction 30 land properties with an estimated market value of about Rs4,100 crore.
These properties are spread across the country and mostly include land parcels.
As per the court directions, they cannot be sold at less than 90% of the circle rates. After spending two years in jail, Sahara chief Subrata Roy is currently out on parole. He was sent to jail on the orders of the Supreme Court in a long-running dispute with Sebi.