Sebi to auction properties of Royal Twinkle, Citrus Check Inns on Jan 23

Capital markets regulator Sebi will auction assets of Royal Twinkle Star Club Ltd and Citrus Check Inns Ltd on January 23 to recover investor funds raised by the firms in the garb of sham 'timeshare' holiday plans. The move comes following the directions of the Supreme Court, the regulator said in a notice on Friday. The properties of the firms in Mumbai, Bengaluru and Kerala will be auctioned on January 23. The property at Lower Parel in Mumbai will be auctioned at a reserve price of Rs 25.6 crore, while the reserve price for Lonavala property is Rs 35.25 crore.