Sebi extends auction date to September 20 for Golden Life Agro properties

NEW DELHI: Capital markets regulator Sebi on Wednesday extended the date till September 20
for auctioning properties of Golden Life Agro India Ltd to recover money that was illegally raised
by it from the public. Earlier, the auction was scheduled for September 8.
However, considering the interests of the bidders expressed for inspection of the properties
through site visits and submission of bids, it has been decided to extend the date of e-auction to
September 20, the Securities and Exchange Board of India (Sebi) said in a notice.
The regulator will auction two properties of the company for a reserve price totalling Rs 8 crore.
The properties put on the block are a plot and a double-storied building located in West Bengal.
The auction will be conducted online mode between 1030 hours and 1130 hours.

Golden Life Agro had raised Rs 11.3 crore from 24,915 investors through the issuance of nonconvertible debentures by way of a private placement. The company was engaged in fund
mobilising activity through the issue of securities to more than 49 persons without complying
with the regulatory norms.
In June 2015, Sebi directed the company and its directors to refund the money raised from
investors along with interests.