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Five Properties of Sahara Group to be Auctioned on July 4

June 02, 2016 23:14 PM IST

New Delhi: Raising worries for stressed non-banking financial entity Sahara Group further, the  Securities and Exchange Board of India (Sebi) ordered real estate advisory company HDFC realty to hold e-auction of a land parcel of the company worth Rs 722 Cr. Notably, the market regulator has engaged HDFC realty along with SBI cap to auction property parcels of Subrato Roy company worth Rs 6,500 Cr.

While the HDFC realty would hold the e-auction on July 4, between 11 am and 12 pm the interested bidders have been told to to inspect these properties spread across states like  Andhra Pradesh, Tamil Nadu, Madhya Pradesh, Chhattisgarh and Uttar Pradesh on June 10. HDFC has got a total of 31 land parcels owned by Sahara Group with a market value of Rs 2,400 Cr to e-auction as compared to 30 land properties by SBI caps with an estimated market value of about Rs. 4,100 crore, for the same.s

The decision was taken by Sebi to hold e-auction of Sahara properties was taken after a Supreme Court directive in the Sahara chit fund scam worth Rs 20,000 Cr some months ago.

According to the guidelines issued by the court, the properties to be put on e-auction can’t be sold at less than 90 per

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