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SEBI: SEBI to auction properties of Mega Mould, Remac Realty

New Delhi | Markets regulator Sebi on Monday stated it should public sale properties of two firms – Mega Mould India and Remac Realty India – to get better illegally raised cash from traders. The Securities and Change Board of India (SEBI) stated in a public discover {that a} whole of 4 properties of those two firms can be auctioned for which the reserve value has been saved at Rs 4.05 crore. Of those, three properties are of Mega Mould whereas one property is of Remac Realty. All these properties are current in West Bengal.

The market regulator stated bids are being invited for the sale of those properties as a part of the continuing restoration proceedings in opposition to the 2 firms and their promoters. The public sale can be performed on-line on August 18. Within the investigation of SEBI, it was revealed that these firms had illegally collected large quantity from traders. It had directed these firms to return the quantity however failing which it has determined to public sale the properties.

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