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

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..