SEBI notifies for the e-auction for the sale of property related to Saradha Group of Companies, ET LegalWorld | Court Practice News

On Friday, Pursuant to Hon’ble High Court of Calcutta Judgment dated June 27, 2022 in the case of Abdul Khalek Laskar & Anr v. Union of India & Ors wherein the court passed in connection with CAN 1 of 2022, CAN 2 of 2022 and CAN 3 of 2022 filed in WPA 7238 of 2017, in the matter of Saradha group of companies, Hon’ble Justice S. P. Talukdar, a retired judge of Calcutta high court, One Man Committee dealt the matter of Saradha group of Companies. Thus, directing to proceed with the auction.

The Hon’ble Justice S. P. Talukdar One Man Committee has directed Securities and Exchange Board of India to proceed with auction of properties of Saradha Group of Companies. Accordingly, Quikr Realty Ltd has been engaged by SEBI to assist it in sale of the properties mentioned herein on “as is where is and whatever there is” basis.

The Saradha group of companies have been alleged to be involved in chit-fund scam in which the scam occurred in the West Bengal, Assam, and Orissa states. The allegation against the companies to to mobilse Over Rs 2, 459 crore in total funds.

The SEBI has appointed C1 India as the e-auction provider and online registration.

[Reported by Kumar Aditya; and written by Kumar Aditya (]

  • Published On Sep 15, 2023 at 03:13 PM IST

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