NEW DELHI: The National Company Law Tribunal(NCLT) Chandigarh has issued order in favour of Sunil Goel second largest promoter and erstwhile Joint Managing Director of Omaxe Ltd.
NCLT Chandigarh directed Guild Builders the holding company of Omaxe Ltd. to allow inspection of record/registers and take extract copies of the documents by Sunil Goel. He has been allowed to have an excess on the records of the company.
Further on the prayer for not creating any encumbrance /pledge on the shares of holding company for the purpose of taking funds for Omaxe Ltd. from various NBFC, Financial Institutions/Banks the NCLT will give its decision on the next date 21-12-2018.
It is pertinent to mention that for the quarter ending September 2018 the Omaxe net profit has fallen by 43%.
The Current financial scenario of the group is not stable, and profitability has dipped despite taking the extra loans from various banks and financial services providers. The case will be heard by the NCLT bench (Chandigarh) on 21 December 2018. Omaxe Ltd, the real estate development company, was founded by both the brothers Rohtash Goel and Goel in 1987 and currently has a footprint in 8 states and 27 cities.