The Securities and Exchange Board of India (SEBI) will auction 22 properties belonging to seven companies in July 2024 to recover funds illicitly collected from investors. The auction, aimed at recovering substantial sums, includes properties from Sunheaven Agro India, RaviKiran Realty India, Infocare Infra, Bharat Krishi Samridhi Industries, GSHP Realtech, Just-Reliable Projects India, and Newland Agro Industries. Scheduled for July 2024, the auction will feature a range of assets, including land parcels and residential buildings primarily located in West Bengal. SEBI has set a reserve price of ?130 million for these properties. Interested bidders have been advised to conduct their own due diligence regarding encumbrances, property titles, and any existing claims before participating in the auction. This move comes after these companies failed to comply with SEBI's regulations concerning public issue norms. They had raised funds from the public through various means, such as issuing non-convertible debentures (NCDs) and redeemable preference shares (RPS), without following the required legal procedures. For instance, Sunheaven Agro India collected ?115.4 million from 7,772 investors between 2009 and 2013, while RaviKiran Realty raised funds from 1,176 individuals by issuing RPS. SEBI's actions are part of broader enforcement measures to ensure investor protection and regulatory compliance. The regulator has emphasised the need for transparency and adherence to legal norms in fundraising activities to prevent similar violations in the future.