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

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

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

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

Next Story
Technology

CCI Releases Market Study On AI And Competition

The Competition Commission of India (CCI) has published its report titled Market Study on Artificial Intelligence and Competition, conducted through the Management Development Institute Society (MDIS). The study aims to deepen understanding of India’s AI markets and ecosystems, identify potential competition concerns, and assess existing and emerging regulatory frameworks governing AI systems.Using both primary and secondary research, including literature review, data analysis, stakeholder interviews, and surveys, the study provides a comprehensive view of the AI ecosystem, market dynamics, ..

Next Story
Infrastructure Transport

PM Modi To Inaugurate Navi Mumbai Airport On 8 October

Prime Minister Narendra Modi will inaugurate the Navi Mumbai International Airport on 8 October 2025, marking a major milestone in India’s aviation infrastructure. The airport received its aerodrome licence from the Directorate General of Civil Aviation (DGCA) on 30 September, clearing the way for its formal launch.The project is being developed in multiple phases by Navi Mumbai International Airport Ltd (NMIAL), a joint venture in which the Adani Group holds a 74 per cent stake, while the remaining 26 per cent is owned by the City and Industrial Development Corporation of Maharashtra (CIDCO..

Next Story
Infrastructure Urban

IFCCI, NITI Aayog Partner To Boost Innovation In Schools

The Indo-French Chamber of Commerce & Industry (IFCCI) and the Atal Innovation Mission (AIM), NITI Aayog, Government of India, have signed a Statement of Intent (SoI) on 19 September 2025 to strengthen collaboration in education and innovation. The signing took place at the Embassy of France in New Delhi during the 3rd Edition of IFCCI CSR Connect Day 2025, held under the theme “Collaborating for Scale – Cross-Sectoral Partnerships for Sustainable Development.”The event brought together over 100 participants, including Indian and French corporate leaders, diplomats, government repres..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?