Regulation 8 - Sale of properties - Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018

Part III Sale of properties 8. (1) The Administrator shall undertake the process of sale of properties after conducting an independent valuation of such properties by a registered valuer. (2) After considering the valuation report, the Recovery Officer may decide on the reserve price below which the property may not be sold. (3) The Administrator may undertake the sale of properties through e-auction process and for this purpose engage an e-auction agency and shall in consultation with the Recovery Officer repeat the auction process till the time such properties are disposed off. (4) The process of disposing off the properties shall be under the supervision of the Recovery Officer. (5) On completion of the sale and receipt of the sale consideration, the Recovery Officer shall issue an order confirming such sale in accordance with the Act. (6) The amount realized in respect of sale of properties of the defaulter shall be deposited in a separate bank account with a scheduled public sector bank in terms of clause (e) of regulation 7 and such account shall be under the control of the Recovery Officer.