**Sebi to Auction 26 Properties of HBN Dairies for ₹83 Crore in February**
New Delhi, Jan 29: The Securities and Exchange Board of India (Sebi) is set to auction 26 properties belonging to HBN Dairies & Allied Ltd with a reserve price of ₹83 crore in February. This action is part of Sebi’s efforts to recover funds that HBN Dairies & Allied raised through unauthorized collective investment schemes. The Supreme Court authorized Sebi to proceed with the sale of HBN’s assets on May 14, 2024, in collaboration with the liquidator.
Sebi initiated the asset sale process after HBN and its directors—Harmender Singh Sran, Amandeep Singh Sran, Manjeet Kaur Sran, and Jasbeer Kaur—failed to return investors’ money. The properties up for auction include various plots, land parcels, and commercial shops located in New Delhi, Gujarat, Maharashtra, Punjab, Madhya Pradesh, and Chhattisgarh.
Quikr Realty has been appointed to assist with the e-auction, while C1 India will provide the e-auction services. Bidders are advised to conduct their own investigations regarding any encumbrances, litigations, or liabilities associated with the properties before placing their bids. The online auction will take place on February 27 from 11 am to 1 pm.
HBN Dairies & Allied had unlawfully raised ₹1,136 crore from unsuspecting investors through schemes promising substantial returns from cattle purchases and ghee sales, violating regulatory norms. In August of the previous year, Sebi had already auctioned eight properties belonging to HBN Dairies & Allied Ltd.
