SEBI confirms sale of four properties auctioned to recover Rs 25.19 crore from Bishal Group, GSHP Realtech, and MBK Business Development.
Properties were sold to four bidders for a total of Rs 2.61 crore after attachment orders were issued against the defaulting companies.
The auction proceeded after defaulters failed to repay investor funds collected pending allotment of securities with 15% interest.
Full payment including 1% poundage fee was received from all successful bidders, making the sales absolute under income tax rules.