The Securities and Exchange Board of India (Sebi) has put up for sale as many as 16 properties of four firms — Golden Life Agro India, Greenworld Agro Industries, Sun Plant Business and Sun Plant Agro — in order to recover dues worth over Rs 87 crore.

The watchdog had earlier attached some of their properties after it asked them to refund investors' money along with interest, which did not materialise.

These companies had illegally raised funds from the public.

Out of the 16 properties being put on the block, eight belong to Sun Plant Agro, six of Golden Life Agro India and one each of Sun Plant Business and Greenworld Agro Industries.

The auction of these properties, spread across West Bengal and Bihar, will be conducted on August 18 and bids for participation will be accepted till August 11, said in a notice on Monday.

The regulator said the bidders should make their own independent enquiries regarding the encumbrances, litigation, attachments, acquisition and liabilities of the property put on auction prior to submitting their bids.

"The properties are being sold with all the existing and future encumbrances whether known or unknown to shall not be responsible in any way for any third party claims/rights/dues, etc," the notice said.