New Delhi: Securities market regulator SEBI has said it will auction four properties of Ravi Kiran Realty India and its promoters to recover investors’ money. These properties, located in West Bengal, will be auctioned at a reserve price totalling Rs 3.22 crore on December 16, the regulator said on Tuesday.Also Read - Maharashtra, Karnataka, 4 Others Among 'States of Concern', Centre Rushes Teams To Review Situation

“Intending bidders are invited to submit their bid(s) along with an amount equivalent of 10 per cent of the reserve price as earnest money for each of the properties to be paid through EFT or NEFT or RTGS for the sale…,” the regulator said. Also Read - Pandemic Wedding: Bengal Couple Invites Guests on Google Meet, Food to be Delivered Via Zomato

The intending bidder is required to submit its EMD on or before December 12, up to 5 p.m., it added. Also Read - Fire Breaks Out at Park Show Cinema Hall in Kolkata, No Casualties

Back in March 2016, SEBI had reportedly ordered the company to refund investors’ money.