BATHINDA: The Securities and Exchange Board of India (SEBI) has announced to auction the six properties of HBN Dairies and Allied Limited, a Delhi-based company. Of these, five properties are situated in Bathinda while one is in Mohali. The company is alleged to have collected Rs 1,136 crore from nearly 20 lakh investors through money pooling schemes in the last many years with assurances of better returns.Taking up various complaints of non-return of money of depositors, SEBI had in 2015 directed the company to refund the money collected from depositors. When the company did not return the money, the recovery office of the northern regional office served a notice to the company and its directors on September 14, 2017, to return Rs 1,136 crore along with interest, costs, expenses within 15 days of the notice. The SEBI prepared a list of 41 properties spanning over Delhi, Punjab, MP, Maharashtra and Gujarat and these were attached.In exercise of the powers conferred under Rule 16 and 48, Income Tax Act-1961, with Section 28-A of SEBI Act-1992, the company was prohibited from disposing and transferring the attached properties and started the recovery proceedings on September 29, 2017.Now, on July 13, the SEBI put up public notices for e-auction of the six properties. The notice was pasted at the district administrative complex on Saturday and also at the properties. The e-auction will be held on August 16. The properties to be auctioned at Bathinda are upscale Country Inn and suites hotel on Mansa road worth Rs 56.12 crore, HBN shopping mall-cum-multiplex opposite thermal lake on Goniana road worth Rs 41.45 crore, HBN Sunrise City, Sector 5, Mansa road worth Rs 3.55 crore, HBN Sunrise City, Sector 4, Mansa road, worth Rs 10.90 crore, HBN Sunrise City, Sector 3, Mansa road, worth Rs. 10.07 crore and commercial plot at Chapparchiri village, Mohali, worth Rs 31.72 crore.An official of SEBI said the company had collected huge amounts from depositors through money pooling schemes by promising lucrative returns but did not return the money. After getting scores of complaints the SEBI attached a number of properties and started the process for auction of these properties.Meanwhile, despite repeated attempts no director of HBN Dairies and Allied Limited was available for comments.

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