SEBI Auctions Rose Valley Group Properties

17 Apr 2024 CW Team

The Securities and Exchange Board of India (SEBI) has announced plans to auction 22 properties belonging to the Rose Valley Group on May 20. This auction is part of SEBI's ongoing efforts to recover funds for investors affected by the Rose Valley chit fund scam.

SEBI's decision to auction the properties comes after the regulator obtained approval from the Supreme Court to sell the assets of the Rose Valley Group. The properties to be auctioned include land parcels, commercial spaces, and residential units located in various parts of the country.

The proceeds from the auction will be utilised to refund investors who were duped in the Rose Valley chit fund scheme. SEBI has been actively engaged in the recovery process to ensure that affected investors receive their rightful dues.

The auction of Rose Valley Group properties underscores SEBI's commitment to investor protection and market integrity. By liquidating the assets of entities involved in fraudulent activities, SEBI aims to deter malpractices and safeguard the interests of investors.

Investors who suffered losses in the Rose Valley chit fund scam are encouraged to participate in the auction process and stake their claims for restitution. SEBI remains vigilant in its pursuit of justice and will continue to take necessary actions to uphold investor confidence and trust in the securities market.

Overall, the auction of Rose Valley Group properties by SEBI marks a significant step towards recovering funds for defrauded investors and holding perpetrators of financial crimes accountable.

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