The State Government suffered a setback yet again on Thursday when not a single bidder turned up to participate in the e-auction of the attached properties of a tainted chit fund company.
“Immovable properties worth Rs 1.55 crore of Safex Infra India ltd were listed to be auctioned to public. But no one turned up to participate in it,” informed Cuttack ADM BB Das, who has been appointed as the receiver of these properties by a special court.
Besides, the attached properties of two other chit fund companies, Astha Group of Companies (Rs 1.42 cr) and Golden land Developers (Rs 70 lakh), are also slated to be sold to public through e-auction on Friday and Saturday, respectively. It is believed that due to fixation of higher base prices of these properties in the auction, no one is taking interest in them. The Government has already witnessed this when not a single bidder turned up to participate in any of the two auctions of properties of the Rose Valley Group held last month.
A designated court here dealing exclusively with chit fund-related cases has allowed the receiver of the attached properties to sell them to public through auction and distribute the realised amounts equitably among the duped investors of these companies. But the Government has not been able to sell a single of the properties for over a year now.