You can become a luxury car owner by participating in the auction process on January 7. However, these will be used cars.
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| Cars like Honda City, Audi Q7, Polo are being auctioned here, know how to buy cheap cars from here |
Mercedes Bench is a chance to buy luxury cars like E-Class, Honda City, Volkswagen Polo and Audi Q7 at affordable prices. Actually, these trains are going to be auctioned at a cheaper price. You can become a luxury car owner by participating in the auction process. However, these will be used cars.
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Why the auction is going on: Actually, Securities and Exchange Board of India (SEBI) is going to auction the properties of Royal Twinkle Star Club and Citrus Check Ins. The properties being auctioned include four office premises and a piece of land in Maharashtra. In addition, the regulator will also auction eight vehicles of Royal Twinkle and its directors and others. The reserve price for these has been kept at Rs 29 lakh. These vehicles are Mercedes Bench E-Class, Honda City, Volkswagen Polo and Audi Q7.
It was also auctioned in August: Earlier in August, Sebi auctioned the assets of Royal Twinkle and Citrus Check Ins at a reserve price of Rs 68 crore. At the same time, during November 2019 to February 2020, SEBI auctioned the assets of these companies with a reserve price of Rs 457 crore.
Why the auction is going on: Let us tell you that these companies had raised crores of rupees under the fake 'timeshare' holiday scheme. SEBI is trying to recover their properties through auction. These companies have a total of 114 properties, which were instructed to sell in six months.