Not a single bidder has expressed intent to participate in the public auction of the attached properties of chit fund firm - Rose Valley Group of Companies - the last date of which expired today.
Noting that not a single bid was made for any of the three landed properties at Balasore and four apartments in a building near Pahala in Khurda district, Cuttack Additional District Magistrate (ADM), B B Das said, "We will have to go for e-auction again soon as per the proceedings."
The ADM, who was appointed as official receiver of two properties of the tainted company, had floated the tender through newspaper advertisements last month inviting potential bidders to participate in the public auction.
The landed properties measuring around seven acres were available at base price of Rs 7.31 lakh and the apartments were available at Rs 3.69 crore, Das said.
The Cuttack district administration had already taken possession of Rs 47 crore of the company deposited in several bank accounts.
A designated court of ADJ here in April last month had allowed Cuttack ADM to sell the attached properties of the chit fund company through public auction and distribute the realised amount among the investors of the firm equitably.
The Economic Offence Wing (EOW) of the state police had seized the properties of the company, which includes 17 acres of land and buildings on it worth over Rs 11 crore, 32 bank accounts of the company having deposits over Rs 51 crore and cash of Rs 47 lakh from around 65 branches of the company across the state.
