Notice of Sale for E-auction of properties of Royal Twinkle Star Club Pvt. Ltd. ("RTSCL") and Citrus Check Inns Ltd. ("CCIL") and their 88 associate/sister concerns

Authority: Securities and Exchange Board of India (SEBI), Recovery Officer

Order Date: 14.08.2026

Case Overview

SEBI has initiated an e-auction process to sell four immovable properties belonging to Royal Twinkle Star Club Pvt. Ltd. (RTSCL) and Citrus Check Inns Ltd. (CCIL) along with their 88 associate/sister concerns. The auction is conducted through Quikr India Private Limited as the e-Auction Service Provider on the platform https://auctions.quikr.com. The sale is being carried out on an 'as is where is and whatever there is basis' without recourse to SEBI or the agency regarding encumbrances, litigations, attachments, or liabilities.

The properties being auctioned are:

1. Pune Property: CTS No.111A, Near Laxmi Road, Budhwar Peth, Pune Municipal Corporation Area, Taluka Haveli, District Pune - 411002. Area: 241.94 Sq.m. Reserve Price: ₹1,64,70,000. EMD: ₹16,47,000. Bid Increase: ₹2,00,000.

2. Ratnagiri Property: S-3, 2nd Floor, Parshuram Park, Hissa No. 2, Plot No. 1, Bhogale Area of Mouj Chiplun, Chiplun Sub Division, Ratnagiri District, Maharashtra - 415605. Area: 97.58 Sq.m built up area. Reserve Price: ₹33,91,200. EMD: ₹3,39,120. Bid Increase: ₹50,000.

3. Valsad Property: Commercial Office No. 601 to 604, 6th Floor, City Survey No.2390/B/5, K B Malls, Halar Road, Valsad, Sub-District Valsad, District Valsad, Gujarat - 396001. Area: 1,460 Sq.ft. or 135.63 sqmts of Super Built Up area. Reserve Price: ₹31,30,200. EMD: ₹3,13,020. Bid Increase: ₹50,000.

4. Idukki Property: Chinnakanal Village, Udumbanchola Taluka, Idukki District, Kerala. Area: 11.50 Acres. Reserve Price: ₹9,70,27,321. EMD: ₹97,02,732. Bid Increase: ₹5,00,000.

All properties will be auctioned on 15.09.2026 at 10:30 hrs. The e-auction will commence strictly at the scheduled time above the highest quotation received (not below the Reserve Price). The closing time is system-controlled with automatic five-minute extensions if any bid is received during the last five minutes until the auction concludes.

Final Outcome

SEBI will declare the highest bidder as the successful bidder subject to confirmation. The successful bidder must deposit 25% of the bid amount (inclusive of EMD) within two working days after auction closure, and the balance amount along with 1% poundage fee within 15 days of intimation. All payments must be made to SEBI Recovery Proceeds account No. SEBISCRYLCITAUC of Bank of India, IFS Code: BKID00VAN04. The Certificate of Sale will be issued within 45 days of auction closure if all conditions are fulfilled. The purchaser bears all statutory/non-statutory dues, taxes, conveyance charges, stamp duty, and registration expenses. EMD of unsuccessful bidders will be refunded without interest after auction completion.

Topics: SEBI enforcement, Asset auction, Recovery proceedings