SEBI Auctions Bishal Group Properties to Recover Investor Money

SEBI will auction seven properties of the Bishal Group on December 10 to recover funds collected illegally from investors. The properties, valued over Rs 15.47 crore, include various real estate assets in West Bengal. Adroit Technical Services will assist SEBI in this auction process.

The Securities and Exchange Board of India (SEBI) has announced the auction of seven properties belonging to the Bishal Group of Companies, scheduled for December 10. The auction is being conducted to recover funds that were illegally raised from investors by the entity.

The properties, which include flats, land, and other real estate assets located in West Bengal, have a collective reserve price of over Rs 15.47 crore. The public notice released by SEBI indicates that the auction will take place between 11 am and 1 pm on the specified date.

Adroit Technical Services has been tasked with assisting SEBI in managing the sale of these properties. In preparation for the auction, SEBI has advised potential bidders to conduct thorough investigations into any potential claims or encumbrances on the properties.

(With inputs from agencies.)