Sebi to auction 15 properties on Nov 19, starting at Rs 110.89 million

17 Oct 2024 CW Team

The capital markets regulator, Sebi, announced that it would auction 15 properties belonging to Mangalam Agro Products, Sumangal Industries, and Falkon Industries India on November 19. This action is part of Sebi's efforts to recover funds that these companies collected from investors in violation of regulations.

Additionally, two other companies, Ravi Kiran Realty India and Purusattam Infotech Industries, will also have their properties auctioned by the markets watchdog. The properties, which include flats, land with structures, and land parcels, are located in West Bengal and Odisha.

Sebi stated in a notice that the auction will be conducted online on November 19, from 11 am to 1 pm, with a reserve price of Rs 110.89 crore. The regulator has invited bids for the sale of properties in the recovery proceedings against Mangalam Agro Products, Sumangal Industries, Falkon Industries India, Ravi Kiran Realty India, and Purusattam Infotech Industries, along with their promoters and directors.

Furthermore, Sebi has engaged Quikr Realty to assist in the auction process. The regulator also advised bidders to conduct their own independent inquiries regarding any encumbrances, litigations, attachments, acquisition liabilities, title, claims, rights, and dues associated with the properties before submitting their bids. Of the 15 properties being auctioned, seven are linked to Mangalam Agro Products, while three each are related to Sumangal Industries and Falkon Industries India.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..