SEBI to auction properties of Sunheaven Agro on January 18
Sunheaven Agro had garnered funds from more than 7,700 investors through issuance of redeemable preference shares without complying with public issue norms. PTI
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Markets regulator Sebi will auction properties of Sunheaven Agro India Ltd on January 18 at a reserve price of Rs 9.4 crore in order to recover investors money.
Sunheaven Agro had garnered funds from more than 7,700 investors through issuance of redeemable preference shares without complying with public issue norms.
In a notice on Sunday, the Securities and Exchange Board of India (Sebi) said it will auction two properties of the company at a reserve price of Rs 9.4 crore. The auction will be conducted online on January 18, 2021 between 10:30 am to 11:30 am.
Hungry for Stressed Assets
Private equity and stressed asset funds continue to show interest in acquiring value assets undergoing insolvency proceedings despite delays and litigation
Illustration by Raj Verma
The battle for acquiring Dewan Housing Finance Ltd, the first financial service provider to go through insolvency proceeding, is intensifying with Adani group s last minute revised offer, taking other bidders, also called resolution applicants, by surprise.
While others in the race - Piramal Enterprises and foreign distressed asset firms such as Oaktree Capital and SC Lowy - took umbrage at the last-minute change in Adani group s offer and threatened to pull out of the bidding process, Adani hit out at them for using the media to prevent maximisation of value for lenders and depositors.