SEBI, the capital market regulator is going to auction a property owned by Sahara in Uttarakhand for a total reserve price of little over Rs 223 crore, on July 28, as part of the process to recover funds.

The Securities and Exchange Board of India has said in a public notice that SBI Capital Markets has been mandated to e-auction a 82.93 acres of land located in village – Bahadarabad and Ranipur in Haridwar, Uttarakhand.

The notice said that “Sebi hereby invites bids from the intending bidders along with and amount equivalent of 25 percent of the reserve price as earnest money to be paid through demand draft/pay order/RTGS/NEFT in favour of Sebi-Sahara Refund Account.”

Read EquityPandit’s Technical Analysis of Indian Stock Market