Sahara auction: Sebi adds 16 land parcels, bid price Rs 650 crore

New Delhi: Markets regulator Sebi on Friday added 16 land parcels of Sahara group with a reserve price of over Rs 650 crore to the list of properties to be auctioned next month for recovery of funds.

This has taken the total number of properties of the beleaguered group to be auctioned to 58 with a combined reserve price of nearly Rs 5,000 crore.

In separate notices today, the Securities and Exchange Board of India (Sebi) said SBI Caps will auction eight properties on July 27 at a reserve price of over Rs 202 crore, while HDFC Realty would conduct an e-auction for another eight properties on July 21 at a reserve price of over Rs 449 crore.

Besides, SBI Caps has already lined up three separate auctions on July 7, July 13 and July 20, while HDFC Realty is scheduled to auction land parcels on July 4, July 15 and July 18. Both firms will auction 21 properties each at a combined reserve price of Rs 4,345 crore.

Following directions from the Supreme Court for sale of certain Sahara assets to recover money, Sebi has mandated SBI Capital Markets (SBI Caps) and HDFC Realty for auctioning a total of 61 land parcels.

HDFC Realty has been roped in to auction 31 land parcels at a reserve price of Rs 2,400 crore, while SBI Caps has been asked to auction 30 land properties with an estimated market value of about Rs 4,100 crore.

These properties are spread across the country and mostly include land parcels. As per the court directions, they cannot be sold at less than 90 per cent of the circle rates.

After spending two years in jail, Sahara chief Subrata Roy is currently out on parole. He was sent to jail on the orders of the Supreme Court in a long-running dispute with Sebi.