Citrus Check Inns Limited Refund Status [2023]

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Citrus Check Inns Limited Refund Status

Article title Citrus Check Inns Limited Refund Status
Company nameCitrus Check Inns Limited
Date of Incorporation26 September 2011
Age of Company11 years, 8 months, 25 days
Official WebsiteClick Here

Citrus Check Inns Limited Refund Status

Citrus Check Inns Limited is actually a new face of Royal Twinkle Star Club which is infamous for selling holiday packages on monthly installment basis and promising huge returns on investment. SEBI had received complaints against Citrus from several investors, claiming that the directors of Royal Twinkle Star Club Limited were operating a Collective Investment Scheme (CIS) through Citrus.

In December 2018, the capital markets regulator SEBI imposed Rs. fined Rs. A penalty of Rs 50 lakh has been imposed on Citrus Check In and its directors for non-compliance of its directions to prevent them from raising funds from the public. Earlier this year, capital markets regulator SEBI decided to auction the properties of Citrus Check Inns Ltd to recover thousands of crores of investors’ money raised illegally by the company.

The properties will be sold through e-auction in different phases. The assets and properties going under the hammer include land parcels, office premises, shops, residential flats, plots and buildings located in Maharashtra, Goa, Gujarat, Daman and Dadra and Nagar Haveli. The amount raised through the e-auction will be used to refund investors’ money. More information regarding the commencement of the refund process will be made available to the public shortly.

Auction Update

Certain properties are being auctioned relating to a case involving Royal Twinkle Star Club Limited and Citrus Check Inns Limited. These properties include land, buildings and rooms located in Lonavala. Also included in the auction are furniture, fixtures, and kitchen equipment. The reserve price of these properties is Rs. 3172.50 lakhs. Additionally, there is another property located in a building named “Trade World” in Mumbai which is also up for auction with a reserve price of Rs. 2304.00 lacs.


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