Inviting bids for the sale of those properties, the regulator mentioned the public sale will probably be carried out on-line on January 14, 2022, from 10.30 am to 12.30 pm.
Out of the 18 properties being placed on the block, 9 properties every belong to Solar Plant Agro and Solar Plant Enterprise.
The regulator mentioned the bidders ought to make their very own unbiased enquiries relating to the encumbrances, title of properties placed on public sale and claims, amongst others, earlier than submitting their bids.
Sebi had earlier connected a few of their properties after directives asking them to refund buyers’ cash together with curiosity didn’t materialise. On this matter, the watchdog had additionally connected demat and financial institution accounts.
In December 2014, attachment proceedings have been initiated in opposition to Solar Plant Agro to get better Rs 69.34 crore and a separate attachment order got here in December 2015 in opposition to Solar Plant Enterprise to get better a sum of Rs 5.76 crore.
Solar Plant Enterprise had collected Rs 4.17 crore from 470 buyers by issuing redeemable choice shares (RPS) from 2005 to 2008 with out complying with the general public problem norms.
Solar Plant Agro was operating a collective funding scheme (CIS) with out essential approvals and registration. The agency was alleged to have mobilised funds from the general public with a promise of excessive returns below its sale of crops scheme.