Authority: Securities and Exchange Board of India (SEBI), Recovery Officer, Northern Regional Office, Delhi
Order Date: September 17, 2026
Case Overview
Securities and Exchange Board of India (SEBI) has initiated recovery proceedings under Section 28A of the SEBI Act, 1992 read with the Second Schedule to the Income Tax Act, 1961 against Life Care Infratech Ltd. and its directors (Yogendra Pratap Shahi, Ashok Kumar Singh, Bhardwaj Muni Tripathi, Ramashish Singh, Harendra Kumar Upadhyay, Satyendra Rai). The proceedings are based on Recovery Certificate Nos. 892 of 2016 (dated March 31, 2016) and 3201 of 2021 (dated January 01, 2021).
To recover the dues, SEBI is selling an immovable property belonging to the defaulters through an e-auction on an "as is where is and whatever there is" basis. Adroit Technical Services Pvt. Ltd. has been appointed as the e-auction service provider, and the auction will be conducted on their platform, www.adroitvaluations.com.
The property for auction is located at Mouja Sarsar, Touji No. 4949, Thana No. 199, Khata No. 491, Jamabandi No. 2212, Survey No. 3924, 3927, 3929, Sub Registrar-Siwan Sadar, Bihar. Its area is 1 Bigha, 9 Katha, 4 Dhur. The Reserve Price (RP) is fixed at ₹98,80,000 (Ninety-Eight Lakh Eighty Thousand Rupees). The Earnest Money Deposit (EMD) required is 10% of the RP, amounting to ₹9,88,000. The bid increase amount for the auction is ₹1,00,000.
SEBI and the Agency explicitly disclaim any representation or warranty regarding the property's title, encumbrances, litigations, or measurements. The successful bidder will be solely responsible for all statutory and non-statutory dues, taxes, stamp duty, registration charges, and other liabilities associated with the property. Intending bidders are prohibited from being a 'Related Party' to the defaulter, as defined under section 2(76) of the Companies Act, 2013.
Final Outcome
SEBI has ordered the sale of the specified immovable property via e-auction to the highest bidder, subject to its confirmation. The proceeds from the sale will be used to recover the dues owed by Life Care Infratech Ltd. and its directors as per the mentioned recovery certificates. The entire process is governed by the detailed terms and conditions outlined in the notice, and the decision of SEBI in all matters relating to the auction is final and binding.
Topics: SEBI Recovery, Asset Auction, Debt Enforcement