SEBI will auction assets of seven companies on May 15

New Delhi, April 15 (Hindustan Reporter) Market regulator Securities and Exchange Board of India (SEBI) will auction 30 properties on May 15 to recover money illegally collected from investors. This auction will be conducted at a reserve price of approximately Rs 25.64 crore. The companies whose assets will be auctioned by SEBI include a total of seven companies including Mangalam Agro Products and Purushottam Infotech Industries.

SEBI said in a statement issued on Monday that it will auction 30 properties on May 15. It will be auctioned at a reserve price of Rs 25.64 crore, the market regulator said in a notice. The regulator said the auction will be conducted online on May 15 from 11 am to 1 pm.

It is noteworthy that out of the 30 properties being put in the auction, nine belong to Mangalam Agro Products, six to Bishal group companies, five to directors of NVD Solar, four to Sun Plant Business Limited and three to Sumangal Industries. Besides this, two properties belong to Jeevan Sathi Dream Projects and one to Purushottam Infotech Industries.