Sebi Warns Against Interference in HBN Property Auctions

Sebi has warned the public against buying properties associated with HBN Dairies & Allied Ltd, following reports of interference in auction processes by individuals impersonating Sebi officials. Sebi's actions come after HBN failed to repay Rs 1,136 crore raised through unlawful collective investment schemes.

The Securities and Exchange Board of India (Sebi) has issued a public warning advising against purchasing properties linked to HBN Dairies & Allied Ltd., after uncovering efforts to disrupt the auction process.

According to Sebi, some individuals have been misleading potential buyers by spreading false information and impersonating Sebi officials. Such actions are hindering the regulator's e-auction efforts to recover investor funds.

Sebi's notice emphasizes legal repercussions for unauthorized interference with HBN's assets. The Supreme Court has empowered Sebi to liquidate HBN's properties, following transgressions where the company unlawfully raised Rs 1,136 crore from investors in dubious schemes.