Sebi to auction HBN Dairies properties, keeps reserve price at Rs 67.7 cr

Capital markets regulator Sebi will auction eight properties of HBN Dairies & Allied Ltd next month for a reserve price of Rs 67.70 crore.

The move is a part of Sebi's effort to recover money raised by HBN Dairies through illicit collective investment schemes.

This came after the Supreme Court in its order dated May 14, 2024, authorised Sebi to sell the assets of HBN Dairies & Allied Ltd (HBN) with the active involvement of the liquidator.

The markets watchdog initiated the process for the sale of assets after HBN Dairies & Allied Ltd and its directors -- Harmender Singh Sran, Amandeep Singh Sran, Manjeet Kaur Sran and Jasbeer Kaur -- failed to refund the investors' money.

The properties to go under the hammer include a shopping mall-cum-multiplex, hotel, plots and commercial shops, the Securities and Exchange Board of India (Sebi) said in a notice on Wednesday.

The properties were located in New Delhi, Punjab, Madhya Pradesh, Gujarat and Maharashtra and were auctioned at .