Fresh e-auction of Rose Valley assets today

Bhubaneswar: After failing to get a single bidder for the immovable properties of chit fund firm Rose Valley Group during the e-auction on May 4, the Odisha government is conducting the process for the second time on Tuesday to repay the duped investors.

Official sources said online auction of the properties would be carried out between 11 am and 3pm today.

In the first phase, four flats owned by the Kolkata-based Ponzi firm, an apartment in Pahala near Bhubaneswar and three plots under Nilagiri tehsil in Balasore district were put on auction through a web portal of government-owned MSTC.

The base price of the four flats were set at Rs 88.25 lakh, Rs 81.95 lakh, Rs 98.75 lakh and Rs 1.10 crore respectively, while the base price of the three land plots measuring 45 decimal was set at Rs 7.31 lakh, sources added.

Not a single bidder expressed interest in the properties in the first auction on May 4.

However the government had announced that it would conduct the auction afresh to fetch bidders.

“We will conduct online auction of the properties once again soon,” Bibhuti Bhusan Das, additional district magistrate (Cuttack)-cum-competent officer appointed under the Odisha Protection of Interest of Depositors (OPID) Act, had said.

Apart from these properties, the company owns a few plots of land and flats in Puri and Bhubaneswar, which will be auctioned in the next phase, sources said.