Om Metals Infraprojects on Monday informed the exchanges that its associate company Om Metals Infotech Pvt Ltd has secured a compromise/settlement with Riya Garments. The latter has agreed to withdraw its claim on the land (56,000 sq mt). The land (in Jaipur) was purchased by Om Metals Infotech from IDBI Bank in an auction in the year 2006-07 and Riya Garments had challenged the sale. The execution of the settlement agreement would be presented to the High Court of Rajasthan in a few days, the company said. The stock of Om Metals gained 0.68 per cent at ₹66.25 on the NSE.
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