Important information SEBI to auction properties of Sebiroyal Twinkle, Citrus Check-Ins

Capital markets regulator SEBI will auction 97 properties of Royal Twinkle Star Club and Citrus Check-Ins on September 25. The auction will be done at a reserve price of over Rs 350 crore.

New Delhi, Aug 30 Capital markets regulator SEBI will auction 97 properties of Royal Twinkle Star Club and Citrus Check-Ins on September 25. The auction will be done at a reserve price of over Rs 350 crore.

SEBI has taken this step in an attempt to recover funds worth thousands of crores raised by companies under the guise of fake ‘timeshare’ holiday plans.

The Securities and Exchange Board of India (SEBI) said in a notice on Monday that it will auction 97 properties of these companies on September 25 at a reserve price of over Rs 350 crore.

According to the notice, the auction will be done online.

The properties to be auctioned include plots, office premises, a car parking area, and a shop in Maharashtra.

In addition, the regulator will auction four vehicles of Royal Twinkle, Twinkle Hospitality, and Citrus Resorts at a total reserve price of Rs 8.28 lakh.

These vehicles include Tata Indica, Skoda Superb Elegance, and Mahindra Logan.

Apart from these, the regulator will also auction some properties of these companies on September 17 at a reserve price of Rs 68.54 crore.

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