Omaxe Group amicably settles legal disputes

Omaxe Group, has amicably resolved the brother’s legal dispute in NCLT Chandigarh and Delhi. Pursuant to an amicable settlement, Sunil Goel has unconditionally withdrawn all his complaints and cases, which were pending before various courts, tribunals, regulators and authorities, says a press release issued by the company.

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

The press release further states that, 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 Mr Rohtas Goel and the entity controlled by his son Mr 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.

“The settlement reflects our commitment to a united vision for Omaxe Group. We’re eager to contribute our energy and ideas as we take on this larger role. Our family’s legacy of excellence will continue to guide us as we navigate the company’s future challenges and successes,” said Mohit Goel, MD, Omaxe Group.