SEBI to Auction HBN Dairies' Assets on July 7
By Ankur Chandra | Published at: Jun 2, 2025 04:52 PM IST
New Delhi | Jun 2 – SEBI (Securities and Exchange Board of India) has announced the e-auction of immovable properties owned by HBN Dairies & Allied Limited and its sister concerns after the Supreme Court’s approval. This update is part of the recovery proceedings against the company under Section 28A of the SEBI Act, 1992, aiming to liquidate assets to recover dues tied to Recovery Certificate No. 1216 of 2017.
The Supreme Court permitted SEBI to sell the assets of the company and its related entities through orders dated May 14 and October 15, 2024. Mr Rohit Sehgal, the Official Liquidator, has been actively involved in the entire process.
Online Auction Details
The auction will be conducted through SEBI’s authorised e-auction platform, which is managed by Quikr India Private Limited. M/s C1 India Pvt Ltd will serve as the e-auction service provider. The auction will be conducted online through www.quikrrealty.com/e-auction.
Bidders are required to deposit 10% of the reserve price as EMD (Earnest Money Deposit) via NTGS/RTGS in the SEBI Recovery Proceeds Account maintained with the Bank of India.
Properties on the Block
The notice lists six properties in Gujarat, Maharashtra, and Madhya Pradesh, with a combined reserve price exceeding ₹1.46 crore. Each property will be sold “as is, where is, and whatever there is”. Here are the details:
| Sl. No | Property Description | Area (Sq. Mts.) | Reserve Price (₹) | EMD (10%) | Bid Increment |
|---|---|---|---|---|---|
| 1 | FF-432 to 435, Vraj Siddhi Tower, Vadodara, Gujarat | 176.00 | ₹46,53,000 | ₹4,65,300 | ₹50,000 |
| 2 | 1st Floor, Sakhala Arcade, Nashik, Maharashtra | 131.93 | ₹42,72,800 | ₹4,27,280 | ₹50,000 |
| 3-6 | Plots No. 66, 67, 70, 130, HBN Sunrise City-2, Ujjain, MP | 96.00 (each) | ₹13,83,000 (each) | ₹1,38,300 (each) | ₹50,000 |
Note: Outstanding dues have already been deducted from reserve prices where applicable.
Submission & Participation Guidelines
- Inspection of properties: June 16, 2025
- Deadline for EMD & Bid submission: June 30, 2025, by 5:00 PM
- Auction window: July 7, 2025, from 11:00 AM to 1:00 PM (with 5-minute auto-extension)
All payments must be made to SEBI’s designated virtual account. Successful bidders must deposit 25% of the bid amount (including the EMD) within 48 hours of confirmation. The remaining amount and a 1% poundage fee must be paid within 15 days from the auction closure date.
Regulatory Conditions
SEBI has cautioned all intending bidders to independently verify each property’s title, encumbrances, and legal liabilities. No responsibility will be assumed for third-party claims or taxes, which the successful bidders must bear.
Furthermore, individuals related to HBN Dairies’ promoters—Mr. Harmender Singh Sran, Mr. Amandeep Singh Sran, Ms. Manjeet Kaur Sran, and Ms. Jasbeer Kaur are barred from participating under the “related party” clause.
Contact for Bidding Support
Interested bidders seeking assistance with registration or training can reach out to:
- Quikr Realty: +91-9930504931, +91-9176197676, +91-9321575329
- SEBI Northern Regional Office: auctionsnro@sebi.gov.in, deepshikhaL@sebi.gov.in
The auction aims to ensure transparent asset recovery and is open to Indian and overseas participants. The final sale will be subject to SEBI’s confirmation.
REF: https://www.sebi.gov.in/enforcement/auction-notice-under-recovery-proceedings/jun-2025/notice-of-auction-in-the-matter-of-hbn-dairies-and-allied-ltd-pursuant-to-directions-of-the-hon-ble-supreme-court-of-india_94336.html
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