New Delhi: The capital markets regulator Securities and Exchange Board of India (Sebi) on Friday added 16 land parcels of Sahara with a reserve price of over ₹ 650 crore to the list of properties to be auctioned next month for recovery of funds.
This has taken the total number of properties of the beleaguered group to be auctioned to 58 with a combined reserve price of nearly ₹ 5,000 crore.
In separate notices on Friday, the Sebi said SBI Capital Markets Ltd will auction eight properties on 27 July at a reserve price of over ₹ 202 crore, while HDFC Realty would conduct an e-auction for another eight properties on 21 July at a reserve price of over ₹ 449 crore.
Besides, SBI Capital Markets has already lined up three separate auctions on 7 July, 13 July and 20 July, while HDFC Realty is scheduled to auction land parcels on 4 July, 15 July and 18 July.
Both firms will auction 21 properties each at a combined reserve price of ₹ 4,345 crore. Following directions from the Supreme Court for sale of certain Sahara assets to recover money, Sebi has mandated SBI Capital Markets 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 ₹ 2,400 crore, while SBI Caps has been asked to auction 30 land properties with an estimated market value of about ₹ 4,100 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.
(Sahara has filed a defamation case in a Patna court against Mint’s editor and some reporters over the newspaper’s coverage of the company’s dispute with the Securities and Exchange Board of India. Mint is contesting the case.)