SEBI Launches High-Value E-Auction to Liquidate Life Care Infratech Assets
The Securities and Exchange Board of India (SEBI) has initiated a high-stakes e-auction aimed at liquidating immovable property belonging to the defaulter, Life Care Infratech Ltd. This auction forms part of ongoing recovery proceedings related to two certificates issued in 2016 and 2021. The sale is being conducted through an e-auction platform managed by Adroit Technical Services Pvt. Ltd., inviting bids from prospective buyers nationwide.Property Description and Auction Parameters
SEBI has listed a significant piece of land for sale: part of Khasra No. 539B & Khasra No. 644, located in Village Bhaukapur, Pragana Bijnore, Tehsil & District Lucknow, Uttar Pradesh- 226002. The property encompasses 4.94 Acres and is offered with a defined reserve price and bidding structure.The Reserve Price (RP) for the land has been set at ₹ 15,55,25,000. To participate, prospective bidders are required to deposit an Earnest Money Deposit (EMD) amounting to ₹ 1,55,52,500, which represents 10% of the Reserve Price. The auction provides a fixed Bid Increase amount of ₹ 5,00,000 for subsequent bids, ensuring controlled and structured bidding progression.
E-Auction Timeline and Participation Process
The e-auction process is scheduled to commence on August 31, 2026, running from 11:00 AM to 01:00 PM. Potential bidders are required to register online through the designated platform, www.adroitvaluations.com. The crucial deadline for submitting bids and remitting EMD is set at August 25, 2026, up to 5:00 PM.Participation requires following strict procedural steps outlined by SEBI and the agency. Intending bidders must submit their bid form along with KYC documents and details of the EMD remittance through the online portal. The sale will be conducted solely through online bidding, allowing participation from any location.
Key Terms and Buyer Responsibility
The entire auction is strictly conducted on an "as is where is and whatever there is" basis, meaning buyers must account for all existing encumbrances or claims before submitting a bid. SEBI and the Agency have explicitly stated they are not responsible for third-party dues or legal issues related to the property's title or status.Prospective buyers bear the sole responsibility for settling all statutory and non-statutory dues, taxes, rates, assessments, and fees owed by Life Care Infratech Ltd. to any governing authority. The successful bidder must deposit 25% of the highest bid amount within 48 hours of intimation, with the balance amount and a 1% poundage fee due within 15 days from the auction closure.
Critical Operational Details for Bidders
The sale is being conducted in recovery proceedings against Life Care Infratech Ltd. and its designated directors. Interested parties are strongly cautioned to undertake independent verification of all property details, title deeds, and encumbrance status through local authorities prior to bidding.The process stipulates that the highest bidder will be declared successful subject to confirmation by SEBI. Failure by the successful bidder to complete payments within the stipulated timeframe will result in the automatic cancellation of the sale and forfeiture of the EMD and other deposits as per SEBI’s discretion.
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