SEBI lines up 18 properties of Vibgyor, Pailan, MPS Group for auction

07 Sep 2021 CW Team

Market regulator Securities and Exchange Board of India (SEBI) has lined up 18 properties of Vibgyor Allied Infrastructure, Pailan Group of companies, and MPS Group of companies for an online auction on October 4 at a total reserve price of above Rs 62 crore.

The 18 properties that have been put in the auction include commercial space, office space, land parcels, and a flat located in West Bengal.

This auction is part of the effort of the SEBI to recover the money of the investors.

In a notice, the regulatory body said it will auction MPS Group of companies 13 properties, Vibgyor Allied Infrastructure three properties, and Pallan Group of companies two properties at a total reserve price of over Rs 62 crore. The auction will be carried online on October 4 between 11 am and 1 pm.

As per the Calcutta High Court orders, the SEBI has started the process for the sale of assets of the companies.

Justice Sailendra Prasad Talukdar has been designated as the one-man committee for the firms' assets auction and repaying the investors' money.

These firms had raised money from investors without complying with SEBI norms.

Through illegal collective investment schemes (CIS), MPS Group of companies raised Rs 1,520 crore from investors.

In 2009, Vibgyor Allied Infrastructure raised Rs 61.76 crore by issuing optionally fully convertible debentures (OFCDs) to 49,562 investors, and Pailan Group of companies had raised Rs 83.42 crore by issuing non-convertible debentures (NCDs) to 23,685 people in 2010-11 and 2014-15.

Image Source

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..