SEBI Launches Massive E-Auction of Defaulter's Real Estate Portfolio Amid Regulatory Recovery Action
The Securities and Exchange Board of India (SEBI) has initiated a high-stakes e-auction to liquidate immoveable properties belonging to Rich Infra Developers India Limited. This sale is part of recovery proceedings conducted under Section 28A of the SEBI Act, 1992, targeting the defaulted assets of the company and its associated directors.The sale presents a significant opportunity for investors interested in high-value commercial and agricultural land across Maharashtra and Punjab. The properties are being offered on an "as is where is" basis through the designated e-auction platform run by Quikr India Private Limited.
Key Properties Up For Auction
Five distinct real estate assets, ranging from land parcels to large tracts of arable land, have been listed for sale. All lots share a single auction date and time.The available properties include land situated in Maharashtra: one parcel measuring 335 Sq Mts located at Shengaon Village, Rajura Taluk, Chandrapur; another substantial plot covering 3782.16 Sq mts in Savali Bujurg Village, Karanja Taluka, Wardha-442201; and a large landholding of 2.48 Hectare near Sabkund Village, Katol Taluka, Nagpur.
Further lots include a piece of land (Survey No. 3 &4/5) measuring 19.41 Acres in Kadoli Village, Patan, Satara District, and the largest offering: 56.40 Acres of land situated at Khot Village in Garhshankar Tehsil, Hoshiarpur District, Punjab.
Financial Details and Auction Mechanics
The auction is scheduled for July 20, 2026, running from 11:00 AM to 1:00 PM. Bidders must adhere strictly to the prescribed terms of sale.Key financial details are as follows:
- Property 1 (Chandrapur): Reserve Price is set at ₹4,82,400 with an Earnest Money Deposit (EMD) required at ₹48,240.
- Property 2 (Wardha): This high-value parcel carries a Reserve Price of ₹78,12,051 and demands an EMD of ₹7,81,205.
- Property 3 (Nagpur): The land in Sabkund Village is offered with a Reserve Price of ₹26,10,000 and an EMD of ₹2,61,000.
- Property 4 (Satara): Priced at ₹49,50,000 with an EMD requirement of ₹4,95,000.
- Property 5 (Punjab): The most significant lot is listed with a Reserve Price of ₹1,80,90,000 and an EMD of ₹18,09,000.
Intending bidders are required to submit their bid along with the corresponding EMD, which must be deposited by July 15, 2026. The platform for bidding is https://www.quikrrealty.com.
Operational Procedures and Buyer Obligations
The sale strictly mandates an online e-auction process. Participants must fulfill several critical prerequisites prior to the auction date. Bidders are required to obtain a User ID and Password after successfully submitting their bid form and remitting the EMD.A key procedural point is that all properties will be sold on "as is where is" and "whatever there is" basis, meaning SEBI and the Agency bear no responsibility for pre-existing encumbrances or claims. Intending bidders are strongly cautioned to conduct independent due diligence regarding title, liens, and liabilities through local authorities before submitting a bid.
Strict Terms for Successful Bidders
The terms governing the successful bidder are highly specific and require immediate action post-auction. The highest bidder is subject to confirmation by SEBI following the close of the auction.Upon selection, the successful bidder must deposit 25% of the winning bid amount (including EMD) within 48 hours of receiving intimation. The remaining balance, along with a 1% poundage fee, must be paid within fifteen days from the auction closure. Failure to meet these payment deadlines will result in the automatic cancellation of the sale and forfeiture of deposits.
The process underscores that all statutory dues, taxes, assessments, and charges related to the properties are the sole responsibility of the successful bidder, regardless of other obligations mentioned in the notice. The decision rendered by SEBI regarding the highest bidder shall be final and binding on all participants.
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