The order got here after the Supreme Court docket in its order on Might 14, 2024 authorised Sebi to promote the property of HBN Dairies & Allied Ltd (HBN) with the energetic involvement of the liquidator.
The Securities and Alternate Board of India (Sebi) initiated the method for the sale of the property after HBN and its administrators — Harmender Singh Sran, Amandeep Singh Sran, Manjeet Kaur Sran and Jasbeer Kaur — didn’t refund traders’ cash.
The properties to go underneath the hammer embrace plots, land parcels, and business retailers, Sebi mentioned in a discover on January 22.
The properties are positioned in New Delhi, Gujarat, Maharashtra, Punjab, Madhya Pradesh and Chhattisgarh and shall be auctioned at a reserve value of Rs 83.26 crore.
Quikr Realty has been engaged by Sebi to help it within the e-auction whereas C1 India has been appointed because the e-auction service supplier, the regulator added. As per the discover, Sebi mentioned bidders ought to make impartial enquiries concerning the encumbrances, litigations, attachments and acquisition liabilities of the properties placed on motion previous to submitting their bid. “Sale or public sale shall be via on-line bidding. Bidders can take part within the e-auction from wherever,” the regulator famous.
The markets regulator is inviting bids for the sale of properties within the restoration proceedings in opposition to HBN Dairies & Allied Ltd and its administrators.
Sebi mentioned the public sale shall be carried out on-line from 11 am to 1 pm on February 27.
The corporate had illegally mobilised Rs 1,136 crore from gullible traders via schemes involving buy of cattle to earn big returns from the sale of ghee.
By indulging in these practices, HBN Dairies & Allied had contravened the regulatory norms.
Sebi had in August final 12 months auctioned eight properties of HBN Dairies & Allied Ltd.
