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The Economic Times
The Economic Times

Sebi bans Omaxe, 5 others for violating minimum public shareholding norms

SEBI OFS

Market regulator Sebi has barred realty firm Omaxe and five others from accessing the securities market for up to one year and imposed a fine totalling Rs 1.92 crore for allegedly creating an artificial public shareholding structure to meet minimum public shareholding requirements.

Omaxe has been restrained from accessing the securities market for three months, while promoters --- Rohtas Goel, Jai Bhagwan Goel -- group companies -- Dream Home Developers Pvt Ltd and Guild Builders Pvt Ltd-- have been barred for one year.

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