The Securities and Exchange Board of India (SEBI) is set to auction 30 properties belonging to the Rose Valley group in June 2025, aiming to recover ₹409 crore. The properties to be auctioned include land with buildings, flats, resorts, hotels, and amusement parks. These properties are located in West Bengal, Andaman and Nicobar Islands, Tripura, and Bihar.
The e-auction will be conducted between 11 am and 1 pm on June 27. CI India has been appointed as the e-auction service provider, while Quikr Realty will assist SEBI in the sale of the properties.
The Calcutta High Court, in a May 11, 2015 order, set up an Assets Disposal Committee (ADC) to oversee the sale of assets belonging to the Rose Valley group to be utilized for repaying the investors. In September 2023, the court directed SEBI to initiate e-auctions of select Rose Valley properties.
In November last year, SEBI auctioned 27 properties of the Rose Valley group worth Rs 63.26 crore. Prior to that, in May 2024, SEBI auctioned 22 properties worth Rs 8.6 crore. In June 2022, SEBI ordered the attachment of bank accounts as well as shares and mutual fund holdings of Rose Valley Hotels and Entertainment Ltd and its then directors to recover investors’ dues totalling more than Rs 5,000 crore.
This action came after Rose Valley failed to comply with SEBI directions to refund investors’ money. In November 2017, the regulator had ordered Rose Valley and its then directors to refund thousands of crores to investors who had parked money in holiday membership plans of the group as it declared those schemes as illegal.
According to the Enforcement Directorate (ED), funds were collected by selling “fake and fabricated” schemes through a chain of agents located in Assam, West Bengal, Tripura, Odisha, Jharkhand, and several other states.
