Sebi on January 5 will e-auction immovable properties of Ramel Industries and its promoters or directors. Photo: Aniruddha Chowdhury/MintNew Delhi: Capital markets regulator Securities and Exchange Board of India (Sebi) will auction 12 properties of Ramel Industries Ltd in January for a total reserve price of over Rs16 crore in order to recover money raised by the company from public through illegal collective investment schemes (CIS). As part of the recovery process, Sebi on January 5 will e-auction immovable properties of Ramel Industries and its promoters or directors, the regulator said in a notice on Wednesday. Total reserve price of these properties is pegged at Rs16.70 crore. Sebi shall not be responsible in any way for any third party claims/rights/dues, etc,” according to the Sebi notice.

Source: Mint December 06, 2017 13:52 UTC