new delhi markets regulator sebi on thursday said it will auction 17 properties belonging to seven business groups including mps group tower infotech and vibgyor group on june 28 with a total reserve price of rs 51 crore in a bid to recover investors money apart from these the regulator has put on block properties of prayag group multipurpose bios india group waris finance international group and pailan group of companies the securities and exchange board of india sebi said in a notice the 17 properties being auctioned include land parcels storied buildings flats and a commercial space situated across west bengal inviting bids sebi said auction of the properties will be conducted through online mode between 11 am and 1 pm further total reserve price has been pegged at rs 51 crore for the assets and quikr realty has been engaged by sebi to assist in the sale of these properties of the total properties to be auctioned five belong to mps group four relate to vibgyor three pertain to pailan group of companies two belong to tower infotech and one each to multipurpose bios india group prayag group and waris finance the regulator said the bidders should make their own independent enquiries regarding encumbrances title of properties put on action and claims among others prior to submitting their bids these firms had raised funds from investors without complying with regulatory norms which prompted sebi to take action earlier the regulator had attached some of their properties after directives asking them to refund investors money along with interest did not materialise in these matters the markets regulator had also attached demat and bank accounts going by the sebi orders mps group of companies includes mps greenery developers that collected rs 1520 crore from investors through illegal collective investment schemes cis prayag infotech had made an offer of redeemable preference shares between 20072008 and 201112 and mobilised at least rs 13137 crore from over 157 lakh investors vibgyor allied infrastructure had issued optionally fully convertible debentures to 49562 investors in 2009 and raised rs 6176 crore tower infotech had raised nearly rs 46 crore from more than 49000 investors through issuance of nonconvertible debentures ncds and redeemable preference shares between 2005 and 2010 multi purpose bios collected rs 597 crore from more than 1460 people through redeemable preference shares between financial year 200708 and 201112 and waris finance had raised rs 512 crore by issuing ncds from 201012 the kolkatabased pailan group pailan agro india ltd and pailan park development authority ltd had mobilised over rs 98 crore from the public through the issue of nonconvertible secured redeemable debentures