Not a single bidder has expressed intent to participate in the public auction of the attached properties of chit fund company M/s Rose Valley Group of Companies, the last date of which expired on Wednesday.
The Cuttack district ADM Mr B. B. Das, who was appointed the 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. “We will have to go for an e-auction again soon as per the proceedings,” said Mr. Das informing that not a single bid was made for any of the three landed properties at Balasore and four flats in an apartment near Pahala in Khurda district.
Mr. Das said the landed properties measuring around seven acres were available at base price of Rs.7.31 lakh and the flats were available at Rs.3.69 crore.
The Cuttack district administration had already taken possession of Rs.47 crore of the company deposited in several bank accounts.
A designated court of the ADJ here in April last month had allowed the Cuttack ADM to sell through public auction the attached properties of the company and distribute the realised amount among its investors equitably.
It may be mentioned here that the Economic Offence Wing of the State Police had seized the properties of the company that includes a plot of 17 acres of land and buildings on it worth over Rs.11 crore, 32 bank accounts with deposits over Rs.51 crore and Rs.47 lakh in cash from around 65 branches of the company spread across the State.
“Not a single bid was made for three landed properties at Balasore, four flats in Khurda district”
