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PACL auction: Sebi gets buyers for 30 luxury cars
NEW DELHI: Looking to sell off attached properties of PACL to recover investors’ money, the Securities and Exchange Board of India has found buyers for 30 luxury
Published on: Sep 1, 2016, 10:35:33 IST
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NEW DELHI: Looking to sell off attached properties of PACL to recover investors’ money, the Securities and Exchange Board of India has found buyers for 30 luxury cars of the embattled group in an online auction, including BMW, Audi, Porsche and Rolls Royce. According to a Supreme Court order, the market regulator had put on sale as many as 47 top-end vehicles of the PACL Group, and the auction was conducted by MSTC on Tuesday. The move is part of Sebi’s efforts to recover ₹60,000 crore from the group, which was raised from investors through unauthorised collective investment schemes.
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