Omaxe Ltd Response to NSE Surveillance Query
Summary of Company's Response
Omaxe Limited provided a clarification to the National Stock Exchange of India Limited in response to their email dated September 1, 2026, with reference letter No.: NSE/CM/Surveillance/17456 dated September 1, 2026. The query sought clarification/confirmation on a news item appearing in media/publication.
Date and Nature of Exchange Query
The National Stock Exchange of India Limited sent a surveillance query on September 1, 2026, regarding a news item and seeking specific information about negotiations/events, awareness of undisclosed information that could explain trading movement, and the material impact on the company.
Company's Clarification on Legal Proceedings and Trading Volume
Omaxe Limited clarified the sequence of events in chronological order:
- On July 30, 2024, SEBI passed an order (reference no. QJA/GR/CFID/CFID/30598/2024-25) against the Company, its Chairman, and others regarding alleged misstatements/irregularities in financial statements, subject to deposit of penalty amount by the appellants.
- The Company filed an appeal before the Securities Appellate Tribunal (SAT) against the SEBI Order. On October 1, 2024, SAT granted a stay on direction at paragraphs No. 41 (1) and (2) of the impugned SEBI Order, subject to deposit of penalty amount by the appellants. The Company deposited the penalty without prejudice to its rights.
- On September 1, 2026, the Hon'ble Securities Appellate Tribunal pronounced the order in the matter of Omaxe Ltd. & Others Vs Securities and Exchange Board of India (which had been reserved for order on July 7, 2026). However, the order is yet to be uploaded/received by the Company.
Regulatory Compliance with SEBI Regulations
The Company stated that upon receipt of the SAT order, it will evaluate the same and if required under the applicable provisions of the SEBI (LODR) Regulations, 2015, make the necessary disclosure to the Stock Exchanges without any delay.
Regarding awareness of undisclosed information that could explain trading movement, the Company confirmed that the order pronounced by SAT is yet to be uploaded/received, and therefore cannot comment on reasons for not disclosing information earlier as required under Regulation 30 of SEBI (LODR) Regulations, 2015.
Assessment of Material Impact
The Company stated that it is presently not possible to comment on or assess the exact implications of the order since it has not yet been received.