For the second time, not a single bidder showed interest in participating in the public auction of the properties of M/s Rose Valley Group of Companies held today.
"Like the first auction on May 4, not a single bidder turned up today to participate in the e-auction of Rose Valley properties," said Cuttack ADM B B Das, who has been appointed as the receiver of the properties by a special court here dealing with cases pertaining to the chit fund scam.
Immovable properties worth nearly Rs four crore of the company, which include four flats in an apartment along the Cuttack-Bhubaneswar Road and 0.45 acres of land in Nilagiri tehsil of Baleswar district, are earmarked to come under the hammer since February 2015. But, for reasons not known, there have been no takers yet for these properties of the tainted company.
"We have received instructions from the government that the collectors concerned will be requested to re-examine the base prices of the properties," Das said indicating the government was keen to sell the properties as per the court order so as to distribute the realised money among the duped investors of the company.
While the state government has set up a corpus fund of Rs 300 crore to be distributed among duped investors of chit fund companies, the special court here too has directed the government to sell the attached properties of these tainted companies through public auction and utilise the realised money for the same purpose.
Apart from the Rose Valley, the court has also directed the government to sell properties worth Rs 70 lakh of M/s Golden Land Developers, Rs 1.55 crore of M/s Safex Infra India Ltd, and Rs 1.42 crore of Astha Group of Companies.
All these properties would be auctioned in mid-June, Das added.
