Market regulator Sebi said on Monday that it had extended the era of kerala housing finance asset auction until July 4, following the ongoing lockdown in Kerala. Previously, the assets would be auctioned off on June 4.
In addition, the regulator has extended the deadline for submitting bids until July 1 from June 2, the Board of Indian Securities and Exchange (Sebi) in a notice.
The Kerala government on Saturday announced an extension of an additional week of the statewide lockdown until June 9, to involve the spread of the COVID-19 pandemic.
The asset for sale is a fully furnished apartment located in Thiruvananthapuram, Kerala. “The lockdown established in Kerala from 8 May 2021 affected the electronic auction process, adding site visits through bidders. the last date of submission of bids and the date of the auction,” the regulator said.
The auction is a component of Sebi’s efforts to recover cash from investors. Kerala Housing Finance had raised the budget from investors through the issuance of securities that meet regulatory standards.
Quikr Realty Ltd contracted through Sebi to help you sell the assets, through the online auction platform, C1 India. surety (EMD) for the sale of the assets can submit their bids before July 1. The online auction will take place on July 2. between 11 am and 12 pm
Potential bidders should conduct their own independent investigations into the charges, disputes, garnishments, asset acquisition liabilities with respect to the auctioned proconsistant, before submitting their bids. the balance amount, as well as 1, consistent with the cent of the highest bid amount as eBook payment within 15 days of the auction closing
According to an order from Sebi, Kerala Housing Finance had issued six series of non-convertible secured debentures (NCDs) rated from A to F at 23,538 allocated and a high budget in the amount of Rs 158 million between 1999 and 2014.
In addition, the company had allocated shares to a total of 1071 investors and raised Rs 19 million in 2014-15 and 2015-16, according to the order.
In August 2017, Sebi had asked Kerala Housing Finance and its promoters, as well as the administrators, to pay the investors’ money, as well as interest, within 180 days.
The resolution came after the regulator obtained a reference from the National Housing Bank that Kerala Housing Finance raised the public budget that met regulatory requirements.
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