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No more pledging of Omaxe shares, orders NCLT

Our Bureau New Delhi | Updated on January 22, 2019 Published on January 22, 2019

The National Company Law Tribunal (NCLT) Chandigarh has directed Guild Builders, the holding company of Omaxe Ltd, to refrain from further pledging shares of the troubled Omaxe, a realty firm.

“No further pledge (of equity shares of Omaxe) can be done by Guild Builders irrespective of whether the remaining shares are treated as encumbered except in order to top up and /or margin calls for the already pledged shares,” said the order issued by NCLT on Monday.

Next hearing on the matter is posted for January 30.

Published on January 22, 2019
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