SAT stays Sebi order barring Omaxe, others from securities market for 2 yrs

Quick Summary:

The Securities Appellate Tribunal (SAT) has stayed a Sebi order that barred realty firm Omaxe, its Chairman Rohtas Goel, Managing Director Mohit Goel and others from the securities market for two years for misrepresentation in the company's financial statements.

Paragraphs No 41(1) and (2) pertain to securities market ban and prohibition from holding any position as key managerial personnel of any other listed company imposed on individuals by Sebi.

The latest order came after Omaxe and others challenged the order passed by the Securities and Exchange Board of India (Sebi) on July 30.

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Category: BusinessFinance

Markets: India

Topics: SAT Omaxe Sebi Securities market ban

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-07 @ 17:32:29 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22922907

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