Goel gets nod to vet Omaxe's holding firm’s documents

Sunil Goel, who has dragged his elder brother and Omaxe Chairman Rohtas Goel to the NCLT alleging mismanagement in the company, has been allowed by the tribunal's Chandigarh bench to inspect the documents of its promoter company, Guild Builders.

A two-member bench of the National Company Law Tribunal (NCLT), Chandigarh, has asked Guild Builders to file its reply over the petitioner's (Sunil Goel) plea to pass an interim directions restraining the company to pledge its remaining shares in Omaxe India.

"Having heard the learned senior counsel for both the parties, we deem it appropriate that the reply of the respondents should be filed for disposal of the prayer regarding pledging/encumbering of the shares," the tribunal said in its order dated November 16, 2018.

Guild Builders is the holding company of Omaxe. Listing the matter on December 21 for next hearing, the tribunal has directed the respondents to file the reply at least a week before the date and serving advance copy to the opposite side.

"Meanwhile, Guild Builders is directed to allow inspection of the record/registers during business hours and take extract copies as asked for as per Section 171 of the Companies Act, 2013," the bench said.

Meanwhile, in a separate matter filed by Sunil Goel against Omaxe, the company sought time to file reply, which the NCLT has agreed and directed to list the matter for December 21 for next hearing.

Sunil Goel, who was removed as a joint MD last year, also sought his reinstatement and prayed for a status quo ante of the company on September 27, 2017.

Omaxe group had termed the allegations of Sunil Goel as "false and frivolous".

During the last hearing on September 19, the NCLT observed that the petitioner has only 1.84 per cent stake in Omaxe and has sought a special waiver under Section 244 of the Companies Act to be eligible to file such a matter.