Having already burnt its fingers by taking up the cause of duped investors of chit fund companies, the Odisha Government is now up for some more trouble as nobody is coming forward to buy the attached properties of the tainted companies. For the second time on Tuesday, not a single bidder showed interest to participate in the public auction of the properties of the Rose Valley Group of Companies.
“like the first auction on May 4, not a single bidder turned up today to participate in the e-auction of the Rose Valley properties,” informed Cuttack ADM BB Das, who has been appointed as the receiver of the properties by a special court here dealing with cases pertaining to chit fund scam.
Immoveable properties worth nearly `4 crore of the company, which includes four flats in an apartment along the Cuttack-Bhubaneswar road and 0.45 acre of land in Nilagiri tehsil of Baleswar district, are earmarked to come under the hammer since February 2015. But for reasons not known, there have been no takers yet for these properties of the tainted company.
“We have received instructions from the government that the concerned collectors would be requested to reexamine the base prices of the properties again,” Das said, indicating that the government is keen to sell the properties to public as per the court order so as to distribute the realised money among the duped investors of the company equitably.
While the State government has set up a corpus fund of `300 crore to be distributed among the duped investors of chit fund companies, the special court here too has directed the government to sell the attached properties of these tainted companies through public auction and utilise the realised money for the same purpose.
Apart from the Rose Valley company, the court has also directed the Government to sell the properties worth `70 lakh of the Golden land Developers, `1.55 crore of the Safex Infra India ltd and `1.42 crore of the Astha Group of Companies.
All these properties would be auctioned in mid-June, Das informed.