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.

Next Story
Infrastructure Urban

India Eyes $3 Trn Industry Growth by 2035

India’s industry sector is poised for a transformative leap, targeting a contribution of up to thirty-two per cent of Gross Domestic Product by year twenty thirty-five, according to Omniscience Capital. Driven largely by manufacturing, the sector is set to overtake agriculture’s GDP share, fuelled by rising domestic consumption, a growing middle class, and targeted government interventions.To achieve the ambitious USD one trillion merchandise export target by year twenty thirty, annual export growth must average twelve per cent. India’s merchandise exports stood at USD four hundred fifty..

Next Story
Real Estate

New Mall Supply to Touch 1.54 Bn Sq. Ft. by 2026 in Top Cities

India's top seven cities are set to receive 1.54 billion square feet of new Grade A mall space in calendar years 2025 and 2026, according to ANAROCK Research. Hyderabad and Delhi-National Capital Region will account for around sixty-five per cent of this supply, marking them as key retail hubs.Leasing activity is forecast to exceed 1.17 billion square feet over the same period, driven by rising consumer demand and the entry of over sixty international retail brands across fashion, electronics, lifestyle, and food and beverage categories.This robust leasing has helped reduce the supply-demand g..

Next Story
Infrastructure Urban

PG Electro Plast Posts Over 100% Profit Growth in FY25

PG Electroplast Limited (PGEL), a leading player in Electronic Manufacturing Services and plastic moulding, reported robust growth in its audited results for FY25. Consolidated revenues rose to Rs 48.70 billion, growing seventy-seven per cent year-on-year. Net profit surged one hundred and twelve per cent to Rs 2.91 billion, while EBITDA rose nearly eighty-nine per cent to Rs 5.19 billion.In Q4FY25, revenue touched Rs 19.10 billion, with net profit doubling to Rs 1.46 billion. The Board approved a final dividend of Rs 0.25 per share.PGEL’s product business recorded Rs 35.26 billion in r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?