Properties of Amrapali Group's chairman to be auctioned on Jan 8

All private properties of Amrapali Group’s former chairman, Anil Sharma, and flats lying unsold in several projects in Noida and Greater Noida will be auctioned on January 8. The move follows an order by the Supreme Court, which had appointed state auctioneers Metal Scrap Trade Corporation (MSTC) to invite bidders for the private and commercial properties of Sharma and deposit the amount with the apex court registry. The auction will be conducted under the guidance of the court receiver, R. Venkatramani. “We have already advertised the date of auction. People will have over a week from now to start responding to us. Those who finally come on board will get a primary window of four hours on January 8 to pitch their bids. The process can get extended, depending on the sort of response we get from bidders,” said Sourabh Kumar, regional manager of MSTC Limited. Following a primary evaluation process, the court receiver will set a base price for each property that will go under the hammer. The bids will be based on the price fixed by the court receiver.