The Securities and Exchange Board of India (SEBI) planned to auction eight properties belonging to HBN Dairies & Allied in the following month, setting a reserve price of Rs 670.70 million. This decision was part of SEBI's effort to recover funds that HBN Dairies had raised through unauthorized collective investment schemes.

This initiative followed a Supreme Court order from May 14, 2024, which authorized SEBI to sell HBN Dairies & Allied's assets with the active participation of the liquidator.

SEBI commenced the asset sale process after HBN Dairies & Allied and its directors, Harmender Singh Sran, Amandeep Singh Sran, Manjeet Kaur Sran, and Jasbeer Kaur, failed to refund investors' money.

The assets up for auction included a shopping mall-cum-multiplex, a hotel, plots, and commercial shops. These properties, situated in New Delhi, Punjab, Madhya Pradesh, Gujarat, and Maharashtra, were listed at a reserve price of Rs 670.70 million.

To facilitate the e-auction, SEBI engaged Quikr Realty, while C1 India was appointed as the e-auction service provider.

In its notice, SEBI advised bidders to conduct independent investigations regarding any encumbrances, litigations, attachments, and acquisition liabilities associated with the properties before submitting their bids.