The Security and Exchange Board of India (SEBI) has ordered attachment of 134 properties of scam-tained Saradha Group to recover Rs 774.3 crore along with other dues to the investors.
In the attachment order issued by SEBI, the agency had asked Saradha Realty India Ltd and its managing director Sudipta Sen to provide full details of all their movable and immovable properties.
In June, SEBI had initiated recovery proceedings against Saradha Realty India Ltd and Mr Sen for their failure to pay a sum of Rs 774.3 crore (as a partial amount) “along with returns due to investors, along with further interest, all costs, charges and expenses incurred in respect of all the proceedings taken for recovery....".
SEBI had first passed order against Saradha in April 2013 days after the scam came to fore.
Most of the properties attached are from West Bengal and include, land apartments, resorts along with other movable assets.
According to investigators the Saradha Scam involves siphoning of Rs 2,500 crore from investors in the State through deposit raising schemes.
