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

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

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.

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.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code