Sebi to auction 22 properties of seven companies in July

Sebi plans to auction 22 properties of seven companies, including Pailan Group and Vibgyor Group, on July 8 to recover funds collected illegally from investors. Calcutta High Court orders initiated the asset liquidation process, overseen by Justice Sailendra Prasad Talukdar. The properties, located in West Bengal, have a reserve price of Rs 45.47 crore. \r

Adroit Technical Services Ltd assists Sebi in the auction. Pailan Group, Vibgyor Group, GBC Industrial Corp, Tower Infotech Group, Waris Group, Annex Infrastructure India, and Teachers' Welfare Credit and Holding Group are among the firms whose assets will be auctioned. These companies raised funds through debentures and shares without adhering to regulatory norms. \r

Sebi invites online bids from bidders for the auction, scheduled from 11 am to 1 pm on July 8.