Royal Twinkle Star Club Limited Refund News

Royal Twinkle Star Club Limited Refund Status News

Royal Twinkle Star Club Limited (RTSC) is a Mumbai-based company, which runs various hotel and retail food chains across the country. It had come to light that the firm was involved in Collective Investment Schemes (CIS) and has raised thousands of crores from investors. The company raised the money in the name of providing investors with “timeshare” holiday plans. In 2014, capital markets regulator SEBI barred Royal Twinkle Star Club Limited (RTSC) and its directors and promoters from raising money from investors.

However, the company continued its operation using a new name, Citrus Check Inns Limited.  In August 2015, SEBI barred Royal Twinkle Star Club Ltd from accessing the securities market for illegally raising over Rs. 2656 crore from the public and asked them to refund investors’ money with promised returns. However, the company failed to comply with SEBI’s directives. Earlier this year, SEBI ordered to the auction of properties of Royal Twinkle Star Club Ltd. on July 15, 2022, to recover investors’ money illegally raised by the company. The auction was to take place online and the assets and properties to go under the hammer included land parcels, office premises, residential flats, plots & buildings located in Maharashtra, Goa, Gujarat, Daman, and Dadra, and Nagar Haveli. The money raised through the auction of companies’ assets and properties will be used tore fund depositors’ money. The latest news & notices regarding the initiation of the refund process will soon be made available to the public.

Latest update 2023

Sebi said it has identified 39 properties of Royal Twinkle Star Club Pvt Ltd and Citrus Check Inns Ltd for an auction/sale on July 15 at a aprrox price of Rs 66.51 crore.

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Auction will be started between 11 am to 1 pm on July 15, 2022.

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