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Sebi Bans Omaxe, 5 Others for Violating Minimum Public Shareholding Norms
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News18•25-09-2026, 17:45
Sebi Bans Omaxe, 5 Others for Violating Minimum Public Shareholding Norms
- •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.
- •Omaxe is restrained for three months, while promoters Rohtas Goel, Jai Bhagwan Goel, group companies Dream Home Developers Pvt Ltd, Guild Builders Pvt Ltd, and former JMD Sunil Goel are barred for one year.
- •Omaxe failed to achieve the prescribed 25% minimum public shareholding (MPS) through independent public shareholders, as certain entities acquired shares using funds from Omaxe and its group entities.
- •Funds originating from Omaxe and group entities, totaling Rs 46.50 crore, were routed through DVM Realtors, Garv Buildtech, and Jeet Builders to fund share acquisitions during OFS windows in 2013.
- •The arrangement created an appearance of independent public shareholding, but the underlying fund trail showed otherwise, constituting a "fraudulent and deceptive scheme and artifice".
Key Questions Answered
SEBI barred realty firm Omaxe, its promoters, and associated entities for creating an artificial public shareholding structure and routing funds to meet minimum public shareholding requirements.
SEBI prohibited Omaxe from accessing the securities market for three months, while promoters Rohtas Goel, Jai Bhagwan Goel, former Joint MD Sunil Goel, and group companies were barred for one year alongside total fines of Rs 1.92 crore.
Omaxe and group entities routed Rs 46.50 crore through intermediaries like DVM Realtors, Garv Buildtech, and Jeet Builders to finance the acquisition of its own shares during Offer for Sale windows in 2013, creating a false appearance of independent public shareholding.
