Public Notice June 13: E-Auction for Sale of Immovable Properties by SEBI

The Securities and Exchange Board of India (SEBI) has announced an e-auction for the sale of immovable properties belonging to KBCL India Ltd and its directors—Rakesh Kumar, Vishvnath Pratap Singh, and Shashi Kant Mishra. This auction is part of the recovery proceedings against these entities, identified under Recovery Certificate No. 1011 of 2016. The properties will be sold on an “as is, where is, and whatever there is” basis.

E-Auction Details

Auction Platform: Quikr Realty Private Limited has been engaged by SEBI to assist with the auction process. The online registration and e-auction will be conducted through the Quikr Realty platform

E-Auction Service Provider: M/s C1 India.

Background

This e-auction is a legal measure to recover dues from the defaulters following the directives issued by SEBI. KBCL India Ltd and its directors have been implicated in financial defaults, necessitating the sale of their assets to settle outstanding obligations.

Instructions for Bidders:
Interested bidders must submit their bids along with an amount equivalent to 10% of the Reserve Price as Earnest Money Deposit (EMD) for each property. This payment should be made through EFT/NEFT/RTGS.

Bidder Requirements

1. Registration: Interested bidders must register on the Quikr Realty e-auction website.
2. Earnest Money Deposit (EMD): Bidders are required to submit an EMD equivalent to 10% of the Reserve Price of the property they intend to bid on. This amount must be paid through Electronic Fund Transfer (EFT), National Electronic Funds Transfer (NEFT), or Real-Time Gross Settlement (RTGS).
3. KYC Documents: Bidders must provide valid Know Your Customer (KYC) documents, including identity and address proof.
4. Financial Proof: Evidence of financial capacity to meet the bid amount should be submitted.
5. Agreement to Terms: Participants must agree to the terms and conditions of the e-auction, confirming their understanding and acceptance of the auction rules and property conditions.

Detailed Auction Process

• Property Inspection: Prospective bidders can inspect the properties on the specified inspection dates to assess their condition.
• Bid Submission: Bids must be submitted online by the last date, along with the required EMD.
• Bidding Process: The e-auction will be conducted online on the specified date and time. The bid increment amount is predefined, ensuring a structured bidding process.

Important Dates

1. Last Date for Bid Submission: July 05, 2024 (05:00 PM)
2. Inspection Date & Time: June 27, 2024 (05:00 PM)
3. E-Auction Date & Time: July 16, 2024 (11:00 AM to 01:00 PM)

Additional Information

For more detailed information regarding the properties, bidding procedures, and terms and conditions of the auction, interested parties are advised to visit the Quikr Realty e-auction website or contact the support team through the platform.

This e-auction represents a significant opportunity for investors and buyers to acquire valuable properties in Mathura, Uttar Pradesh. Ensure timely participation and adherence to all requirements to take advantage of this offering.

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