Sebi to Auction 23 Properties of Nine Firms

31 Dec 2024 CW Team

The Securities and Exchange Board of India (Sebi) has announced the auction of 23 properties belonging to nine companies, including Tower Infotech and Vibgyor Group, in February 2025. This auction aims to recover funds illicitly collected from investors. Other companies whose properties will be auctioned include GBC Industrial Corporation, Waris Group, Pincon Group, Kolkata Weir Industries Ltd (KWIL), Annex Infrastructure India, I-core Group, and MPS Group. The process has been initiated by Sebi following the Calcutta High Court's orders. The properties, which include plots, apartments, and buildings located in West Bengal, will be auctioned at a reserve price of Rs 55 crore. Justice Sailendra Prasad Talukdar has been appointed as the committee for liquidating the assets and repaying investors. Adroit Technical Services has been engaged to assist in the sale. The auction will take place online on February 6, 2025, from 11 am to 1 pm. Sebi has cautioned bidders to conduct their own due diligence regarding encumbrances, litigations, and property titles before submitting their bids. These companies had raised funds from investors without complying with regulatory norms.

Infrastructure Urban

03 Apr 2026

Centre Disburses Over Rs 24,610 mn in XV Finance Commission Grants

The Union Government has released XV Finance Commission tied grants during the financial year 2025–26 to rural local bodies in Chhattisgarh, Gujarat, Madhya Pradesh, Punjab and Sikkim and has released withheld portions of tied and untied grants to Himachal Pradesh, Odisha and Tripura. The total disbursal exceeded Rs 24,610 mn, with figures expressed in million (mn) thereafter. The releases cover allocations pertaining to different financial years and aim to strengthen rural local governance. State-wise disbursements included Rs 3,324.6 mn for Punjab, Rs 9,432.7 mn for Madhya Pradesh, Rs 3,47..

Centre Releases Over Rs 15 bn as XV FC Grants to Rural Bodies

The Union Government has released over Rs 15 bn in grants recommended by the Fifteenth Finance Commission (XV FC) to strengthen Panchayati Raj Institutions (PRIs) and Rural Local Bodies (RLBs) in six states. The funds comprise tied and untied grants disbursed in FY 2025–26. Telangana received Rs 2.48 bn as the first instalment of untied grants for FY 2025–26, benefitting 12600 Gram Panchayats (GPs). Uttarakhand received Rs 913.1 mn as the second instalment and an additional Rs 18.4 mn of a withheld first instalment was released to a further 216 GPs. Mizoram is included among beneficiary st..

Government Assures Fuel Supplies And Seafarer Safety Amid West Asia Developments

The Government of India has stepped up coordinated measures to maintain stability in critical sectors as developments in West Asia continue to unfold. It has prioritised uninterrupted energy supplies, safeguarded maritime operations and extended consular assistance to nationals. Central authorities are working with State and Union territory administrations to ensure timely information dissemination and operational continuity. Refineries are reported to be operating at high capacity with adequate inventories of petrol and diesel, and domestic LPG production has been increased to support consump..