SEBI bars Omaxe Ltd from securities market for 3 months

Omaxe Limited has received an order from the Securities and Exchange Board of India (SEBI) concerning alleged non-compliance with Minimum Public Shareholding requirements. SEBI has restrained Omaxe Limited from accessing the securities market and dealing in securities for three months. Additionally, monetary penalties of ₹27 lakh have been imposed on the company. SEBI has also imposed penalties and market access restrictions on promoters and related entities. The company is currently examining the order and evaluating available legal remedies.