Sebi to Auction HBN Dairies' Properties in August 2024

12 Jul 2024 CW Team

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.

Infrastructure Transport

12 Mar 2026

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..