SEBI Auctions Saradha Group Properties on 17 October

21 Sep 2023 CW Team

The Securities and Exchange Board of India (SEBI) has announced the auction of Saradha Group properties scheduled for 17 October. This development marks a significant step in the ongoing efforts to recover funds and assets related to the Saradha chit fund scam.

SEBI has been actively engaged in the recovery of funds from the Saradha Group, which was involved in one of the most prominent financial scams in recent years. The auction will include a range of properties owned by the group, including land parcels and real estate assets.

Investors and stakeholders closely follow this auction as it represents a crucial phase in the process of compensating those affected by the scam. The proceeds from the auction will be utilised to repay the investors who were defrauded by the Saradha Group.

This move by SEBI underscores its commitment to ensuring justice in financial fraud cases and providing restitution to the victims. The auction on October 17th is anticipated to draw significant attention from both bidders and the public as the fate of these assets is determined.

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