Authority: General Manager & Recovery Officer, SEBI Eastern Regional Office

Order Date: May 19, 2026

Case Overview

This document is a Certificate of Sale issued by the Recovery Officer of the Securities and Exchange Board of India (SEBI) under Section 28A of the SEBI Act, 1992, read with Rule 65 of the Second Schedule to the Income-tax Act, 1961. The action is part of recovery proceedings initiated against four companies collectively known as the Bishal Group of Companies: Bishal Abasan India Limited (BAIL), Bishal Distillers Limited (BDL), Bishal Agri-Bio Industries Limited (BABIL), and Bishal Horticulture and Animal Projects Limited (BHAPL), along with their directors and promoters. The proceedings are based on Recovery Certificates numbered RC1587 of 2018, RC1588 of 2018, RC1589 of 2018, and RC1599 of 2018.

To recover dues owed by the defaulters, a public auction was conducted for one of their immovable properties. The auction took place on March 9, 2026.

Final Outcome

Samiul Ali Shah (PAN: ATUPS7178Q), with an address in Village Gimageria, P.O. Srirampur, P.S. Contai, Dist. East Midnapur, West Bengal - 721401, was declared the successful purchaser at the auction. The total purchase consideration amounted to Rs. 46,90,159 (Rupees Forty-Six Lakhs Ninety Thousand One Hundred and Fifty-Nine Only), which includes a 1% poundage fee. The purchaser has paid the full amount. The sale was confirmed by a SEBI order dated April 20, 2026, and became absolute on the same date. This certificate formally transfers the following property to the purchaser:

  • Property Description: A parcel of Bastu land, appertaining to R.S. Plot No. 258 (L.R. Plot No. 318 under R.S. Khatian 139, L.R. 125/1) at Mouza-Chandannagar, J.L. No. 1, within sheet 14, within the limits of the Chandannagar Municipal Corporation, Hooghly.
  • Sale Deed Reference: Sale Deed No. I-02077/2011
  • Land Area: 3.55 Decimal

The certificate is signed and issued by Mitrajeet Dey, General Manager & Recovery Officer at SEBI's Eastern Regional Office in Kolkata.

Topics: SEBI Recovery, Property Auction