Sebi to Auction 26 Properties: Capital markets regulator Sebi will auction 26 properties of HBN Dairies & Allied Ltd in February to recover funds from illicit schemes.
Reserve Price at Rs 83 Crore: The properties, including plots and commercial shops, will be auctioned at a reserve price of Rs 83.26 crore.
Supreme Court Approval: The auction follows a Supreme Court order on May 14, 2024, authorizing Sebi to sell HBN's assets with the liquidator's involvement.
Nationwide Properties: The properties are located in New Delhi, Gujarat, Maharashtra, Punjab, Madhya Pradesh, and Chhattisgarh.
Online Bidding Process: The e-auction will be held online on February 27, allowing bidders to participate from anywhere.
Illegal Fund Mobilization: HBN Dairies & Allied illegally raised Rs 1,136 crore through schemes involving cattle purchases and ghee sales.
Directors Held Liable: Directors Harmender Singh Sran, Amandeep Singh Sran, Manjeet Kaur Sran, and Jasbeer Kaur failed to refund investors' money.
Previous Auctions: Sebi had auctioned eight properties of HBN Dairies & Allied in August last year.
Bidders’ Responsibility: Bidders must independently verify encumbrances, litigations, and liabilities before submitting bids.
Auction Partners: Quikr Realty and C1 India have been appointed to assist Sebi in the e-auction process.