Sebi to auction properties of HBN Diaries in Feb, at Rs 83 cr reserve price

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Sebi to auction properties of HBN Diaries in Feb, at Rs 83 cr reserve price - Business Standard

Quick Summary:

The Securities and Exchange Board of India (Sebi) initiated the process for the sale of the assets after HBN and its directors -- Harmender Singh Sran, Amandeep Singh Sran, Manjeet Kaur Sran and Jasbeer Kaur -- failed to refund investors' money.

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

Capital markets regulator Sebi will auction 26 properties of HBN Diaries & Allied Ltd for a reserve price of Rs 83 crore in February.