Citizens' Issues
SBI starts auction of Mallya's assets, cars
Mumbai : In an attempt to recover dues from business tycoon Vijay Mallya, the State Bank of India on Thursday initiated e-auction of the grounded Kingfisher Airlines (KFA) headquarters Kingfisher House and other movable assets, officials said here.
 
The prime property Kingfisher House, situated near the Chhatrapati Shivaji International Airport, measures around 17,000 sq feet and is being auctioned with a base price of Rs.150 crore.
 
A banner inviting bids for the e-auction was put up outside the building. Bids can be submitted till April 4. The actual auction will take place on April 6.
 
Besides, e-auction has been initiated for selling nine high-end cars like two Honda City EXi, a Honda Civic, two Toyota Camry, a Toyota Innova, a Toyota Corolla, a Hyundai Elantra and a Hyundai Santro Zip.
 
Other movable assets up for grabs include office furniture and fittings, air-conditioners and other items in the Kingfisher House.
 
The e-auction is being carried out jointly by SBICAPS Trustee Co Ltd, a subsidiary of SBI Caps through AuctionTiger.
 
Mallya owes around Rs.9,000 crore to SBI and a consortium of 17 Indian banks and the Kingfisher House was acquired by SBI a year ago in a bid to recover its dues from the defaulter Mallya, who is currently abroad.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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SEBI warns investors on fraudulent fund collections; issues list of 233 companies
Some unlisted companies are luring retail investors by issuing securities including NPS, NCDs in the garb of private placement, warns SEBI while issuing a list of 233 such entities
  
Market regulator Securities and Exchange Board of India (SEBI), while warning investors about investing money in dubious investment schemes has issued a list of 233 companies, including Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd that are fraudulently raising money from public.
 
In a release, SEBI said it has taken action against 233 such entities for issuance of securities in the form of non-convertible and convertible preference shares (NPS-CPS), non-convertible and convertible debentures (NCDs-CDs) and equity shares to public, without complying with the prescribed provisions of law. As on 15 March 2016, SEBI said it has taken action against 233 companies in such cases.
 
Majority of the companies against whom SEBI has taken action are from West Bengal, followed by Odisha and Delhi. 
 
The companies against which action has been taken include Kunnamkulam Paper Mills Ltd, SGI Research & Analysis Ltd, Prayag Infotech Hi-Rise Ltd, Vibgyor Allied Infrastructure Ltd, Kolkata Weir Industries Ltd, Ramel Industries Ltd, Regenix Drugs Ltd, Real Tulip India Ltd, Micro Leasing and Funding Ltd, Swarnabhumi Developers Ltd, SLB Invest (India) Ltd, Basil International Ltd, Greater Kolkata Infrastructure Ltd and Sukhchain Hire Purchase Ltd. 
 
Moneylife has been constantly warning investors about not investing in such fraudulent companies. Some of the companies on which Moneylife wrote include, Pailan Agro India Ltd, StockGuru India-SGI Research & Analysis Ltd, and Ramel Industries Ltd. 
 
Here is the list of companies, which have violated SEBI regulations…
 

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COMMENTS

Dr N Balasubramanian

11 months ago

What is it in West Bengal that attracts such a vast majority of breaching companies to violate regulatory norms as this SEBI list suggests? Seems to be an interesting project to study the antecedents of the promoters and directors to ascertain if there is a recognisable trend that encourages this large scale non-compliance!
Prof Bala
Dr N Balasubramanian

CBI issues non-bailable warrant against senior UP IAS officer
Lucknow : A CBI special court has issued a non-bailable warrant (NBW) against senior Uttar Pradesh IAS officer Rajeev Kumar over a plot allotment scam, an official said on Thursday.
 
Special Central Bureau of Investigation Judge G. Sridevi issued the warrant against Kumar for his role in the scam in Noida. 
 
He was sentenced to three years on November 20, 2012.
 
Kumar, who was appointed secretary in the state, was indicted by special CBI judge S. Lal in 2012, along with former chief secretary Neera Yadav. 
 
He had approached the Allahabad High Court against the order.
 
The court, however, dismissed his petition for relief after which the state government was forced to remove him from his post. 
 
Yadav surrendered in the Ghaziabad court on March 14. 
 
She is being held in the Dasna jail in Ghaziabad district. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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