Markets regulator Sebi on Wednesday said it will auction the properties of four companies, including Infinity Realcon and Sumangal Industries, on January 10 to recover money that was illegally raised by them from investors. Other two firms, whose properties will go under the hammer are GSHP Realtech Ltd and Infocare Infra Ltd, the Securities and Exchange Board of India (Sebi) said in a notice. A total of 25 properties of the four companies will be auctioned at a reserve price totalling `12.2 crore, it noted. Of these properties, 16 belongs to Infinity Realcon, five relates to Sumangal Industries and two each to GSHP Realtech and Infocare Infra. These properties include land parcels, plots, single storied buildings and a flat located in West Bengal.
Inviting bids for the sale of properties in the recovery proceedings against the four firms and their promoters or directors, Sebi said the auction will be conducted online on January 10 next year from 10.30 am to 12.30 pm.