Sebi has extended the time till August 31 to auction properties of two companies — Mega Mould India and Remac Realty India — to recover money that was illegally raised by them.
Earlier, the auction was scheduled for August 18.
However, considering the interests of the bidders expressed for inspection of the properties through site visit and submission of bids, it has been decided to extend the last date of e-auction to August 31, the Securities and Exchange Board of India (Sebi) said in a notice on Thursday.
The regulator will auction a total of four properties of these two firms for a reserve price totalling Rs 4.05 crore. The auction will be conducted online from 1030 hours to 1230 hours.
Of the four properties, three relate to Mega Mould and the remaining one belongs to Remac Realty. These properties include flats, a land parcel and a utility room located in West Bengal.
Last month, the regulator issued a notice for the sale of immovable properties of Mega Mould and Remac Realty and their promoters or directors, wherein the last date of submission of the bids was fixed as August 11.