An online auction is set to take place for eight confiscated assets of the Krantiveer Sangoli Rayanna Society in Belagavi district. Scheduled for May 8, the proceeds from the auction will benefit the depositors.
Appointed special officers by the state government, along with competent authorities investigating corruption cases, will oversee the auction. These measures stem from the ongoing investigation into the alleged embezzlement of 400 crores by the Sangoli Rayanna Society since 2017.
Confiscated assets, including those of the society’s chairman Appugol and director, will be sold in phases through online auctions. Applications from depositors were submitted in December and January, prompting this action.
The auction will take place on May 8, from 11 am to 1 pm, preceded by a pre-auction meeting on May 3. Participants must submit the necessary documents and earnest money by May 6 to qualify.
Interest in the auction is high in Belagavi, where depositors await relief. The properties to be auctioned include land from Hindalga, Balekundri KH, and Sattigeri. While the auction aims to address financial losses, questions remain about when depositors will receive their dues.