Authority: Recovery Officer, Securities and Exchange Board of India
Order Date: July 03, 2026
Case Overview
The Securities and Exchange Board of India (SEBI) has issued a corrigendum to its public notice of sale dated June 12, 2026 (published in newspapers on June 14, 2026) regarding the e-auction of immovable properties. The auction is part of recovery proceedings initiated under Recovery Certificate No. 2823 of 2020 dated February 05, 2020 against Rich Infra Developers India Limited and its directors (Shri Harvinder Pal Singh, Shri Gurpreet Singh Sidhu, Shri Parampreet Singh Sidhu, and Shri Baljinder Preet Singh). The properties are being sold on an "as is where is and whatever there is" basis through SEBI's e-auction platform.
The corrigendum specifically addresses errors in the description of properties listed at serial numbers 1 and 3 in the original auction notice. For the property at serial number 1, the taluka mentioned in the description should be read as 'Chandrapur' instead of 'Rajura'. For the property at serial number 3, the area measurement is corrected from '2.48 Hectare' to '1.48 Hectare'. Consequently, the reserve price for this property has been revised downward to ₹15,67,100.
Final Outcome
SEBI has officially corrected the property descriptions and reserve price in the auction notice. All other contents of the original notice remain unchanged. Interested bidders are directed to visit the 'Auction Notice under Recovery Proceedings' section under the 'Enforcement' tab on www.sebi.gov.in for complete details.
Topics: SEBI Recovery Proceedings, Property Auction, Legal Corrections