Omaxe Group resolves brothers’ legal disputes amicably, Real Estate News, ET RealEstate

September 4, 2023

NEW DELHI: Omaxe Group has amicably resolved the brothers’ legal dispute in NCLT Chandigarh and Delhi. Pursuant to the settlement, Sunil Goel has unconditionally withdrawn all his complaints and cases, which were pending before various courts, tribunals, regulators and authorities.

In 2017, differences arose between the brothers with regard to functioning of the company, when Sunil Goel was removed from the company.

Earlier this year, Rohtas Goel and his younger brother Sunil Goel agreed for full and final resolution of all their disputes related to shareholding, directorship, control, management and affairs of Omaxe Group companies and for transferring the entire holding of Sunil Goel and his family members to Rohtas Goel and his family members.

Sunil Goel group has already transferred 9.45% holding in Guild i.e., equivalent to a 6.47% indirect stake in Omaxe, to Rohtas Goel and the entity controlled by his son Mohit Goel, and shall be further transferring the remaining holding in tranches.

Consequent to this settlement and inter-se transfers, Mohit Goel and Jatin Goel, sons of Rohtas Goel, have emerged as the largest shareholders in the company.

Omaxe has till date delivered over 132 million sq ft spanning across 21 group housing projects, 10 integrated townships and 14 commercial malls/office spaces/Hotels/SCOs. The Group has another 22 million sq. ft. of space under construction. This includes seven ongoing integrated townships, five group housing projects and seven commercial malls/office spaces/Hotels/SCOs.

  • Published On Sep 4, 2023 at 05:00 PM IST

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