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A total of 15 properties including Sun Plant Business, Sun Plant Agro, and Remac Realty to be auctioned by SEBI on 11 May 2022

SEBI i.e. Securities and Exchange Board of India is going to take action on all those companies which have taken money from investors wrongly.

Under this, SEBI is investigating all those companies in the year 2022, under which efforts can be made to get the money of investors trapped in the stock market, etc.

SEBI is sending official notices to all such companies. Even before this, the action was taken to recover the money by attaching the properties of many such companies.

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A total of 15 properties including Sun Plant Business, Sun Plant Agro, and Remac Realty to be auctioned by SEBI on 11 May 2022

In this episode, next month i.e. on May 11, 2022, SEBI has a total of 15 properties, out of which 9 are of Sun Plant Business, 4 of Sun Plant Agro, and the remaining two are of Remac Realty India limited.

The properties of all these companies are going to be auctioned. It has been seen in a report that the auction will start from 10:30 am on May 11 and will run online for 2 hours i.e. till 12:30 am.

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SEBI action plan before the auction going ahead next month

The responsibility of the auction has been entrusted to Adroit Technical Services.
SEBI has said in a notice that the 15 properties which are to be auctioned on May 11 include its land plots and flats spread over West Bengal.

Before the start of the auction, SEBI said that the bidders would be allowed to collect information about these properties before submitting their bids.

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SEBI has had did this before

Some time back also the assets of Sun Plant Agro were attached by SEBI. This was because the company did not comply with the order of SEBI to return the money to the investors with interest. Under this, their properties were attached and money was recovered.

In the year 2014, in the month of December, the property attachment action was taken against Sun Plant Agro to recover Rs 69.34 crore, and the same next year again in December 2015 an order against Sun Plant Business for recovery of Rs 5.76 crore had given.

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In the coming times also, SEBI is going to keep a close watch on all those companies which mobilize investors’ money wrongly and do not follow the right laws applicable in the market, due to which later the assets will be transferred to government agencies like SEBI. Steps like attachment and recovery etc. have to be taken.

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