Markets regulator Sebi will auction six properties of HBN Dairies & Allied Ltd next month for a reserve price of Rs 154 crore.
The move is a part of Sebi's effort to recover money raised by HBN Dairies through illicit collective investment schemes.
In a notice, the Securities and Exchange Board of India (Sebi) said it has engaged SBI Capital Markets to assist it for sale of the properties of HBN Dairies and its directors.
The auction of the company's six properties will take place on August 16 at a reserve price of Rs 154 crore.
The properties to go under the hammer include a shopping mall cum multiplex, hotel and commercial plot in Punjab.
"Sale or auction shall be through online bidding. Bidders can participate in the e-auction from anywhere," the regulator noted.
It further said that the intending bidders should make their own independent enquiries regarding the litigations, attachments, liabilities of the property, in respect of the assets put on auction.
The company had illegally mobilised funds amounting to Rs 1,136 crore from gullible investors through schemes involving purchase of cattle to earn huge returns from sale of ghee.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app