SBI Capital Markets and HDFC Realty have put 10 Sahara land parcels worth Rs 1192 Crore, on sale, as per mandated by markets regulator Sebi. While SBI Caps will conduct the auction on July 7, HDFC Realty will auction the lands on July 4.
The Supreme Court had asked the Securities and Exchange Board of India, in March, to start selling Sahara Group's properties to raise money to be paid by Sahara chief Subrata Roy for his release. A bench headed by Chief Justice TS Thakur had directed the board to sell them after it was informed of a list of 86 properties, which according to Sahara's lawyers, were worth Rs 40,000 Crore, had been handed over to the regulator to show the group's bonafide. Most of the properties listed, is the group's home state Uttar Pradesh, in cities like Kanpur, Muzaffarnagar, and Greater Noida. However, there are also plots down south in Coimbatore and east, in Siliguri. As per the SBI Caps list, about 2185 acres of land parcels worth Rs 4017 Crore have been put up for sale by Sebi.
In a public notice issued by HDFC Realty, it said it will e-auction as many as five land parcels on July 4. The properties are expected to fetch around Rs 722 Crore at reserve price. SBI Cap will e-auction five land parcels on July 7, at a reserve price of Rs 470 Crore, it said in a separate notice. All the properties are located in Andhra Pradesh, Tamil Nadu, Madhya Pradesh, Chhattisgarh, Gujarat and Uttar Pradesh and include both; agricultural and non-agricultural land.
Interested bidder can inspect these land parcels between June 8 and June 10. As per the court’s directions, these properties cannot be sold at less than 90 per cent of circle rates.
