SEBI To E-Auction Sahara’s Uttarakhand Property
By Team Legistify / 2017-07-12

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The Securities and Exchange Board of India (SEBI) will auction a property owned by the Sahara Group in Uttarakhand, for a total reserve price of little over Rs 223 crore on July 28 as part of the process to recover funds from the beleaguered group.

In a public notice on Tuesday, the capital markets regulator said that SBI Capital Markets has been mandated to e-auction a 82.93 acres of land located in village - Bahadarabad and Ranipur in Haridwar, Uttarakhand.

SEBI hereby invites bids from the intending bidders along with and amount equivalent of 25 percent of the reserve price as earnest money to be paid through demand draft/pay order/RTGS/NEFT in favour of SEBI-Sahara Refund Account.

SEBI Notice

The regulator said that 1.36 acres of land out of 82.93 acres has been acquired by National Highways Authority of India (NHAI).

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